ABOUT YOU shareholders can accept the Takeover Offer and tender their ABOUT YOU shares at a price of EUR 6.50 per share in cash, which represents a premium of 12% to the median analyst target price of 5.80 euros (~$6.09) and a premium of 107% to ABOUT YOU’s 3-month volume-weighted average share price on 10 December 2024, the last trading day prior to the announcement from Zalando of its intention to submit a Takeover Offer.
Zalando SE has launched a voluntary public takeover offer for ABOUT YOU Holding SE at EUR 6.50 (~$6.825) per share, a 12 per cent premium to the median analyst target price.
With nearly 80 per cent of shares secured, Zalando aims for value creation through collaboration.
The acceptance period ends on 17 February 2025, with the deal expected to close in summer 2025, pending regulatory approvals.
Through agreements with the major shareholders of ABOUT YOU, Otto Group, Otto Family, HEARTLAND and all three founders and members of the management board of ABOUT YOU, and further purchases, Zalando has already secured almost 80% of the share capital of ABOUT YOU for the transaction. The transaction comes with compelling value creation opportunities that the two companies, operating in the same industry, can generate by collaborating in a wide range of areas.
Subject to their review of the offer document, the management board and supervisory board of ABOUT YOU support the Takeover Offer and intend to recommend that ABOUT YOU shareholders accept the Takeover Offer.
The acceptance period is expected to end at 24:00 hours on 17 February 2025 (CET). The Takeover Offer is not subject to a minimum acceptance threshold. Closing of the transaction is expected in summer of 2025, subject to obtaining relevant regulatory approvals.
Details on how the Takeover Offer can be accepted are set out in the offer document. ABOUT YOU shareholders should contact their respective custodian banks to tender their shares and inquire for any relevant deadlines set by their custodian banks which may require actions prior to the formal end of the acceptance period.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
