On 19 April 2017 Mediahuis and VP Exploitatie launched a public offer for all outstanding shares in Telegraag Media Groep (TMG) for €6.00 per share.
At that moment Mediahuis and VP Exploitatie already owned ca. 60.0% of the shares in TMG. On 16 June 2017 Mediahuis has declared its offer unconditional after ca. 1.4% of the shares were tendered.
The Central Works Council (COR) of TMG has provided an advice in which the COR follows the intention to recommend the offer by Mediahuis and VP Exploitatie. The COR has made agreements with the Consortium of Mediahuis and VP Exploitatie and with TMG relating to strategy, financial policy, independent journalism, governance, employees and workers participation. These agreements have been summarized in the position statement of TMG.
In this transaction, Lindenaar & Co has advised the COR in the extensive financial, strategic and organisational analysis of the public offer of Mediahuis and VP Exploitatie, as well as in the agreements the COR has made with the offerors and TMG.
Profile Telegraaf Media Groep
TMG is one of the largest media companies in the Netherlands, with strong brands such as De Telegraaf, DFT, Telesport, Metro, Autovisie, Privé and VROUW; regional dailies such as Noordhollands Dagblad and de Gooi- en Eemlander; digital brands such as GeenStijl, Dumpert and Gaspedaal; Classic FM and – through a strategic collaboration – national radio stations Sky Radio, Radio Veronica, Radio 538 and Radio 10.
Profile Mediahuis
Mediahuis is one of the leading media groups in Belgium and The Netherlands. In Belgium, Mediahuis is publisher of strong news brands, such as De Standaard, Het Nieuwsblad/De Gentenaar, Gazet van Antwerpen and Het Belang van Limburg and in the Netherlands of NRC Handelsblad, NRC.Next and De Limburger. Mediahuis is active in the radio and television markets, exploits numerous digital platforms, publishes magazine and free newspapers, and is active with audiovisual production companies and printing companies.
Profile VP Exploitatie
VP Exploitatie is an independent Dutch investment- and management company owned by the family Van Puijenbroek. The company invests in securities, participations, real estate and other assets. The strategy of VP Exploitatie is focused on investments in Dutch and Belgium companies.