Deals
Liberty Maintains Telenet Offer as Lazard Questions Price
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Liberty Global Inc. doesn’t plan to change its offer to buy out the shares of Belgium’s Telenet Group Holding NV for 35 euros ($45) a share, despite a Lazard Ltd. report saying the company is worth 37 euros to 42 euros.
Liberty announced plans last month to buy the almost 50 percent of Telenet that it doesn’t already own for a total of about 2 billion euros. Lazard, a financial advisory firm, was hired to assess the shares under Belgian takeover rules. Liberty, a cable company led by billionaire John Malone, said yesterday that Lazard’s methodology was flawed.