Axel Springer and agree on a revised offer at €38.05

Following an agreement reached between the two groups, Axel Springer is to file a friendly revised offer for the shares of at a price of €38.05 per share. This price represents a premium of nearly 12% compared to the price of the initial offer filed by Axel Springer on 28 September 2010.

The Revised Offer will include a minimum acceptance threshold, set at 50.01% (including Axel Springer’s current 12.4 % stake) of the share capital and voting rights of, below which the Offer will be unsuccessful.

Ralph Buechi, President Axel Springer International at Axel Springer AG said: “The agreement paves the way for a transaction based on mutual consent between Axel Springer and the Board and management of Our intention has been friendly from the beginning, and we strongly believe that it is in the best interest of all parties involved that we move ahead on agreed terms. This is especially true for the management and employees of, who will now be able to fully focus on the business and continue with their excellent work. Following a careful assessment, the recent share price developments of the peer group as well as’s recent upward revisions of their financial targets led us to reconsider our offer price, which is now even more attractive for the shareholders of”

Germany, Berlin & France, Paris

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