Bertelsmann has announced today that it will not proceed with a voluntary public offer for the shares of RTL Group which it does not already own.
Bertelsmann has been considering an E44 a-share public offering since its acquisition of RTL in December (see
Pearson Agrees Sale Of RTL Stake). The group has also increased its stake in RTL to 90.2%. Minority shareholders asserted that the E44 a share price was too low but, if they agreed to pay more, Bertelsmann would have to compensate Pearson due to a clause in the take over agreement.
Bertelsmann stated that it “intends to maintain, and reserves the right further to increase, this percentage shareholding in RTL Group, while continuing to observe the rights of minority shareholders in RTL Group.”
