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URGENT ¥¥¥ Liberty Global buys Virgin Media for $23.3 bln

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(Globalpost/GlobalPost)

US-based cable operator Liberty Global said late Tuesday that it would buy cable television firm Virgin Media for $23.3 billion in cash and stock.

According to the terms of the agreement, Virgin Media stockholders will receive for each share of the Britain-based firm $17.50 in cash, 0.2582 Liberty Global Series A shares and 0.1928 Liberty Global Series C shares, which implies a price of $47.87 for each Virgin Media share.

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http://www.globalpost.com/dispatch/news/afp/130205/urgent-liberty-global-buys-virgin-media-233-bln