TMG confirms receipt increased proposal Talpa and reconfirms support for offer Mediahuis and VP Exploitatie
Telegraaf Media Groep (“TMG”) has taken note of the press release issued yesterday by Talpa Holding N.V. (“Talpa”) announcing an increase of the indicative offer to EUR 6.50 per share and the press release issued this morning by Mediahuis and VP Exploitatie (the “Consortium”) confirming that the stake held by the Consortium is strategic and will not be sold to Talpa.
As explained in the joint press release by TMG and the Consortium issued yesterday, the intended offer from Talpa will have no chance of succeeding given the 59% stake held by the Consortium, which repeatedly has indicated explicitly that any higher bid by Talpa will not be taken into consideration. The increased offer from Talpa made yesterday does not change this. Talpa can, now that TMG and the Consortium have signed the Merger Protocol, still reach agreement with (members of) the Consortium.
The Supervisory Board, currently also responsible for the executive function of TMG, confirms its recommendation and support for the offer from the Consortium in light of the convincing strategy of the Consortium in combination with TMG, the deal certainty, the fair price offered and various other reasons as explained yesterday.
Further announcements will follow if and when required.
This is a public announcement by Telegraaf Media Groep N.V. pursuant to section 17 paragraph 1 of the European Market Abuse Regulation (596/2014).
About Telegraaf Media Groep
Telegraaf Media Groep N.V. (TMG) is one of the largest media companies in the Netherlands, with strong brands such as De Telegraaf, DFT, Telesport, Metro, Autovisie, Privé and VROUW; regional dailies such as Noordhollands Dagblad and de Gooi- en Eemlander; digital brands such as GeenStijl, Dumpert and Gaspedaal; Classic FM and – through a strategic collaboration with Talpa – national radio stations Sky Radio, Radio Veronica, Radio 538 and Radio 10. We also have dozens of other brands and titles that focus on providing local news, entertainment or e-commerce (e.g., GroupDeal). Through Keesing Media Group, we are market leader in Europe in the field of puzzle magazines and digital puzzles. It is TMG’s mission to provide consumers with high-quality, personalised and relevant news, sport and entertainment 24 hours a day, 7 days a week, via any available form of distribution. For more information about TMG, go to www.tmg.nl.