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KKR & Co Inc. (NYSE:KKR) submits 63 euro offer to take German publisher, Axel Springer, private

  • KKR & Co Inc. (NYSE:KKR) announced an offer yesterday to buy out Axel Springer SE’s (ETR:SPR) minority shareholders for 63 euros per share.
  • The deal submitted by KKR and Axel Springer’s majority shareholders represents a 40% premium to the company’s value.

However, the deal has to be supported by at least 20% of the company’s outstanding shares capital for it to proceed.

Axel Springer stock has rallied since the rumours of the deal emerged last week given that the stock had fallen significantly due to a prior profit warning.

KKR and the majority shareholders want to take the publisher private in order to focus on long-term investments.