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BRIEF-TMG states formal objection to Talpa offer
June 20, 2017 / 5:55 AM / in 4 months

BRIEF-TMG states formal objection to Talpa offer

June 20 (Reuters) - TELEGRAAF MEDIA GROUP NV

* ANNOUNCED ON MONDAY ITS FORMAL POSITION ON THE TALPA OFFER

* STRATEGY INCLUDES CERTAIN GOOD ELEMENTS BUT DOES NOT PAY ATTENTION TO DIFFICULT MARKET ENVIRONMENT REGARDING CORE ACTIVITIES OF TMG AND ITS EXECUTION RISKS

* MEDIAHUIS STRATEGY IS MORE CONVINCING FOR A SUCCESSFUL AND SOLID FUTURE OF TMG

* SUPERVISORY BOARD DOES NOT FIND TALPA OFFER REALISTIC AS IT IS IMPOSSIBLE FOR TALPA TO ACQUIRE A MAJORITY STAKE

* PRICE OFFERED BY TALPA (EUR 6.50/SHARE) IS FAIR BUT PART OF AN UNCERTAIN PROPOSAL AND TALPA WILL NOT HAVE TO DECLARE OFFER UNCONDITIONAL AS ACQUIRING A MAJORITY STAKE WILL BE IMPOSSIBLE

* PRICE OFFERED BY MEDIAHUIS/VPE CONSORTIUM (EUR 6.00/SHARE) IS FAIR AND CERTAIN

Source text: bit.ly/2rLovYr Further company coverage: (Gdynia Newsroom)

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