Feb 5 John Malone's Liberty Global Inc
struck a deal to buy British cable group Virgin Media
for about $15.75 billion, a move that would put the
U.S. billionaire up against old rival Rupert Murdoch.
Libert and Virgin said in a statement on Tuesday that under
the terms of the deal, Virgin Media shareholders will receive
$17.50 in cash, 0.2582 Liberty Global class A shares and 0.1928
Liberty Global class C shares for each Virgin Media share. Using
Tuesday's closing prices for those shares, that implies a value
of $47.02 for each Virgin Media share.
Virgin Media is the second-biggest pay-TV provider in Britain
behind Murdoch's satellite group BSkyB.