Offer to buy-back shares of Axel Springer AG
June 12, 2008 | by Axel Springer AG
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June 12, 2008, Axel Springer AG will make an offer to the shareholders of the company to buy-back up to 918.000 shares in the form of a share repurchase offer against a payment of a cash consideration in the amount of Euro 80.00 per share which is equivalent to a premium of 17.66 percent on the average of the closing prices on the last three exchange trading days. The tender offer period will presumably start end of June 2008.
Due to its low indebtedness, Axel Springer AG uses the currently low stock market price to offer the shareholders a buy-back significantly above the current stock market price.
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Source: Axel Springer AG, Press release