TX GROUP AG Provisional interim result regarding Tamedia's public tender offer for the Goldbach Group
Tamedia's takeover offer for the Goldbach Group has taken a key hurdle. By the end of the offer period a total of 89.48 percent of the shares were tendered to Tamedia. The offer is therefore likely to be accepted. The grace period for shareholders who have not yet tendered their shares will commence on 27 March and end on 11 April 2018, 4:00 pm.
Zurich, 21 March 2018 - On 22 December 2017, the Swiss media group Tamedia made a preliminary announcement for a public tender offer to purchase all shares issued by the Goldbach Group AG (ISIN CH0004870942). On 2 February 2018, Tamedia AG published the detailed Offer Prospectus for the takeover of the Goldbach Group AG, with an offer of CHF 35.50 for each registered share. By the end of the offer period at 4:00 pm on 20 March 2018, a total of 5'631'725 of the shares issued by the Goldbach Group had been tendered. This represents 89.48 percent of the maximum number of 6,293,876 Goldbach shares subject to the offer.
Maximum number of shares issued by Goldbach Group | Number of shares tendered by the offer | Participation rate and success rate |
6,293,876 | 5'631'725 | 89.48% |
This interim result is provisional. The definitive interim result for the offer will be published by Tamedia on 26 March 2018. Shareholders who have not yet tendered their shares may do so during the grace period of 10 trading days from 27 March to 11 April 2018, 4:00 pm CET.
Tamedia intends to urge Goldbach, upon acceptance of the offer, to apply for the Goldbach shares to be delisted from the SIX Swiss Exchange. If over 90 percent of the shares are delivered, Tamedia plans to compensate the remaining minority shareholders with cash compensation.
The offer is subject to the offer restrictions in the Offer Prospectus. The offer is among other things subject to the approval of the Swiss Federal Competition Commission. Tamedia and Goldbach expect to be granted this approval in May or, in the case of an in-depth review, at the latest by September 2018. It is therefore expected that the completion of the offer, subject to the fulfilment of all terms and conditions of the offer, will be postponed accordingly as published in the Offer Prospectus.
The text of the pre-announcement, the Offer Prospectus and all information concerning the offer restrictions may be downloaded at www.tamedia.ch/goldbach
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