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Axel Springer Recommends Shareholders Accept KKR Offer

German digital publishing house Axel Springer SE's (AXELF.PK) supervisory and executive boards recommended its shareholders to accept 63.00 euros per share buyout offer from Global investment firm Kohlberg Kravis Roberts or KKR & Co. L.P. (KKR).

Axel Springer stated that the private equity firm's cash offer of 63.00 euros per share is fair from a financial point of view and represents a 39.7 percent premium over the company's closing share price on 29 May 2019, the day before Axel Springer confirmed discussions with KKR about a potential strategic investment.

The tender period for the offer started with the publication of the offer document on 5 July 2019 and will end on 2 August 2019.

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