Patrick Drahi’s plans to take Altice Europe private are now well underway, with the businessman’s previously outlined EUR4.11 (USD4.88) cash offer for each issued and outstanding common A and common B share now open. The offer price represents a premium of 23.8% over the closing price on 10 September 2020 (i.e. prior to the initial announcement of the offer). The offer period will run from 25 November 2020 to 21 January 2021 (unless extended), and non-conflicted board members fully support and recommend the offer.
The Offeror, Next Private, is a direct subsidiary of Next Alt, which is owned and controlled by Drahi, the founder of Altice Europe.