Deals
Malone’s Liberty Global to Buy Virgin Media for $16 Billion
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John Malone’s Liberty Global Inc. agreed to buy U.K. cable-television provider Virgin Media Inc. for $16 billion in cash and stock to challenge Rupert Murdoch in Europe’s biggest pay-TV market.
The deal values Britain’s second-biggest pay-TV company at $47.87 a share, the companies said in a statement. That represents a 24 percent premium to Virgin Media’s closing price on Feb. 4, before the company said it was considering a deal. Including debt, Virgin Media is valued at $23.3 billion.