Zalando Launches Public Tender Offer for ABOUT YOU
Zalando SE has launched a voluntary public takeover offer for ABOUT YOU Holding SE, publishing the offer document following BaFin approval. The offer price is EUR 6.50 per share, representing a 12% premium to the median analyst target price and a 107% premium to ABOUT YOU's 3-month volume-weighted average share price as of December 10, 2024.
Zalando has already secured approximately 80% of ABOUT YOU's share capital through agreements with major shareholders, including Otto Group, Otto Family, HEARTLAND, and all three founders. The acceptance period begins January 20, 2025, and ends February 17, 2025. The transaction, expected to close in summer 2025, is not subject to a minimum acceptance threshold but requires regulatory approvals.
Both companies' management boards support the takeover, citing potential value creation opportunities through industry collaboration.
Zalando SE ha lanciato un'offerta pubblica di acquisto volontaria per ABOUT YOU Holding SE, pubblicando il documento dell'offerta dopo l'approvazione di BaFin. Il prezzo offerto è di EUR 6,50 per azione, che rappresenta un premio del 12% rispetto al prezzo obiettivo mediano degli analisti e un premio del 107% rispetto al prezzo medio ponderato per volume delle azioni di ABOUT YOU degli ultimi 3 mesi a partire dal 10 dicembre 2024.
Zalando ha già assicurato circa l'80% del capitale sociale di ABOUT YOU attraverso accordi con i principali azionisti, inclusi Otto Group, Otto Family, HEARTLAND e tutti e tre i fondatori. Il periodo di accettazione inizia il 20 gennaio 2025 e termina il 17 febbraio 2025. La transazione, che si prevede si chiuderà nell'estate del 2025, non è soggetta a una soglia minima di accettazione ma richiede approvazioni normative.
Entrambi i consigli di gestione delle società supportano l'acquisizione, citando opportunità di creazione di valore attraverso la collaborazione nel settore.
Zalando SE ha lanzado una oferta pública de adquisición voluntaria para ABOUT YOU Holding SE, publicando el documento de la oferta tras la aprobación de BaFin. El precio de la oferta es de EUR 6,50 por acción, lo que representa una prima del 12% sobre el precio objetivo medio de los analistas y una prima del 107% sobre el precio medio ponderado por volumen de las acciones de ABOUT YOU en los últimos 3 meses hasta el 10 de diciembre de 2024.
Zalando ya ha asegurado aproximadamente el 80% del capital social de ABOUT YOU a través de acuerdos con los principales accionistas, incluidos Otto Group, Otto Family, HEARTLAND y los tres fundadores. El período de aceptación comienza el 20 de enero de 2025 y finaliza el 17 de febrero de 2025. La transacción, que se espera que se cierre en el verano de 2025, no está sujeta a un umbral mínimo de aceptación, pero requiere aprobaciones regulatorias.
Las juntas de gestión de ambas empresas apoyan la adquisición, citando oportunidades potenciales de creación de valor a través de la colaboración en la industria.
잘란도 SE가 ABOUT YOU Holding SE에 대한 자발적 공개 인수 제안을 발표하며 BaFin의 승인을 받은 제안 문서를 공개했습니다. 제안 가격은 주당 6.50 유로로, 이는 분석가의 중간 목표 가격보다 12% 높은 금액이며, 2024년 12월 10일 기준 ABOUT YOU의 3개월 거래량 가중 평균 주가보다 107% 높은 수준입니다.
잘란도는 주요 주주인 오토 그룹, 오토 가족, HEARTLAND 및 세 명의 창립자들과의 계약을 통해 약 ABOUT YOU의 80%의 주식 자본을 확보했습니다. 수용 기간은 2025년 1월 20일에 시작되어 2025년 2월 17일에 종료됩니다. 2025년 여름에 마무리될 것으로 예상되는 거래는 최소 수용 기준에 따르지 않지만 규제 승인이 필요합니다.
두 회사의 경영진은 산업 협력을 통한 가치 창출 기회가 있다고 말하며 인수를 지지합니다.
Zalando SE a lancé une offre publique d'achat volontaire pour ABOUT YOU Holding SE, publiant le document de l'offre après l'approbation de la BaFin. Le prix de l'offre est de 6,50 EUR par action, représentant une prime de 12% par rapport au prix cible médian des analystes et une prime de 107% par rapport au prix moyen pondéré par le volume des actions d'ABOUT YOU au cours des 3 derniers mois au 10 décembre 2024.
Zalando a déjà sécurisé environ 80% du capital social d'ABOUT YOU grâce à des accords avec les principaux actionnaires, y compris le groupe Otto, la famille Otto, HEARTLAND et les trois fondateurs. La période d'acceptation commence le 20 janvier 2025 et se termine le 17 février 2025. La transaction, qui devrait être conclue à l'été 2025, n'est pas soumise à un seuil d'acceptation minimum, mais nécessite des approbations réglementaires.
Les conseils de gestion des deux entreprises soutiennent l'acquisition, évoquant des opportunités potentielles de création de valeur grâce à la collaboration dans le secteur.
Zalando SE hat ein freiwilliges öffentliches Übernahmeangebot für ABOUT YOU Holding SE veröffentlicht und das Angebotsdokument nach Genehmigung durch die BaFin veröffentlicht. Der Angebotspreis beträgt 6,50 EUR pro Aktie, was einer Prämie von 12% gegenüber dem medianen Analystenzielpreis und einer Prämie von 107% gegenüber dem volumengewichteten durchschnittlichen Aktienkurs von ABOUT YOU in den letzten 3 Monaten bis zum 10. Dezember 2024 entspricht.
Zalando hat bereits etwa 80% des Grundkapitals von ABOUT YOU durch Vereinbarungen mit großen Aktionären, darunter die Otto Group, die Otto Family, HEARTLAND und alle drei Gründer, gesichert. Die Annahmefrist beginnt am 20. Januar 2025 und endet am 17. Februar 2025. Die Transaktion, die voraussichtlich im Sommer 2025 abgeschlossen wird, unterliegt keiner Mindestannahmeschwelle, erfordert jedoch regulatorische Genehmigungen.
Die Vorstände beider Unternehmen unterstützen die Übernahme und führen potenzielle Wertschöpfungsmöglichkeiten durch Branchenzusammenarbeit an.
- Secured 80% of share capital prior to offer launch
- Significant premium of 107% over 3-month volume-weighted average share price
- 12% premium to median analyst target price
- Management and supervisory board support the takeover
- No minimum acceptance threshold requirement
- Transaction completion subject to regulatory approvals
- Extended timeline until summer 2025 for deal closure
Offer document published today following approval by BaFin
Acceptance period starts today and is expected to end on 17 February 2025
Offer price of EUR 6.50 euros per share represents a premium of
12% to the median analyst target price of EUR 5.80 and a premium of107% to ABOUT YOU's 3-month volume-weighted average share price on 10 December 2024Management board and supervisory board of ABOUT YOU welcome and support the offer
Takeover offer is not subject to a minimum acceptance threshold; customary closing conditions apply as described in the offer document
BERLIN, GERMANY / ACCESS Newswire / January 20, 2025 / Zalando SE (the "Bidder" or "Zalando") today published the offer document for its voluntary public takeover offer (the "Takeover Offer") for the shares of ABOUT YOU Holding SE ("ABOUT YOU") following the approval by the German Federal Financial Supervisory Authority ("BaFin").
Beginning today, ABOUT YOU shareholders can accept the Takeover Offer and tender their ABOUT YOU shares at a price of EUR 6.50 per share in cash, which represents a premium of
Through agreements with the major shareholders of ABOUT YOU, Otto Group, Otto Family, HEARTLAND and all three founders and members of the management board of ABOUT YOU, and further purchases, Zalando has already secured almost
Subject to their review of the offer document, the management board and supervisory board of ABOUT YOU support the Takeover Offer and intend to recommend that ABOUT YOU shareholders accept the Takeover Offer.
The acceptance period is expected to end at 24:00 hours on 17 February 2025 (CET). The Takeover Offer is not subject to a minimum acceptance threshold. Closing of the transaction is expected in summer of 2025, subject to obtaining relevant regulatory approvals.
Details on how the Takeover Offer can be accepted are set out in the offer document. ABOUT YOU shareholders should contact their respective custodian banks to tender their shares and inquire for any relevant deadlines set by their custodian banks which may require actions prior to the formal end of the acceptance period.
The offer document and a non-binding English translation is now available online at https://www.the-perfect-fit.de/. The offer document is also available free of charge from BNP Paribas S.A., Niederlassung Deutschland, Senckenberganlage 19, 60325 Frankfurt am Main, Germany (please send your request, quoting your full address, by fax to +49-69-1520-5277 or by e-mail to frankfurt.gct.operations@bnpparibas.com).
Contact:
Zalando SE
Valeska-Gert-Straße 5, 10243 Berlin
Germany
Registered with the Commercial Register of the local court ( Amtsgericht ) of Charlottenburg under HRB: 158855 B
Listed: Regulated Market ( Prime Standard ) in Frankfurt
ISIN: DE000ZAL1111
Zalando Media and Investor Relations contact:
Media inquiries
Sarah Syed
Business & Financial Communications
presse@zalando.de
Investor/Analyst inquiries
Patrick Kofler
Investor Relations
investor.relations@zalando.de
About Zalando
Founded in Berlin in 2008, Zalando is Europe's leading online multi-brand fashion destination. We are building a pan-European ecosystem for fashion and lifestyle e-commerce, along two growth vectors: Business-to-Consumer (B2C) and Business-to-Business (B2B). In B2C, we provide an inspiring, high-quality multi-brand shopping experience for fashion and lifestyle products to more than 50 million active customers across 25 markets. In B2B, we leverage our logistics infrastructure, software, and service capabilities to support brands and retailers in managing and scaling their entire e-commerce business, both on and off the Zalando platform. Through our ecosystem vision, Zalando aims to enable positive change in the fashion and lifestyle industry.
Important information:
This press release is for information purposes only and does not constitute a solicitation to sell or an offer to buy any of the securities of ABOUT YOU Holding SE. The final terms and conditions and other provisions relating to the Takeover Offer are disclosed in the offer document, the publication of which has been approved by the German Federal Financial Supervisory Authority ( Bundesanstalt für Finanzdienstleistungsaufsicht ). Investors and holders of securities of ABOUT YOU Holding SE are strongly recommended to read the offer document and all other announcements in connection with the Takeover Offer as soon as they are published, as they contain or will contain important information. The Takeover Offer is made exclusively under the laws of the Federal Republic of Germany, especially under the German Securities Acquisition and Takeover Act ( Wertpapiererwerbs- und Übernahmegesetz - WpÜG ), and certain provisions of the securities laws of the United States of America applicable to cross-border takeover offers.
The Bidder reserves the right, to the extent legally permitted, to directly or indirectly acquire further shares of ABOUT YOU Holding SE outside the Takeover Offer on or off the stock exchange. If such further acquisitions take place, information about such acquisitions will be published without undue delay, if and to the extent required by the laws of the Federal Republic of Germany or any other relevant jurisdiction.
Insofar as this document contains forward-looking statements, these do not represent facts and are identified by the words "will", "expect", "believe", "estimate", "intend", "aim", "assume" and similar expressions. These statements express the intentions, beliefs or current expectations and assumptions of Zalando SE and the persons acting in concert with it. The forward-looking statements are based on current plans, estimates and projections made by Zalando SE and the persons acting in concert with Zalando SE to the best of their knowledge, but make no representation as to their future accuracy. Forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and are usually beyond the control of Zalando SE or the persons acting in concert with Zalando SE. These expectations and forward-looking statements may prove to be inaccurate and actual developments may differ materially from forward-looking statements. Zalando SE and the persons acting in concert with Zalando SE do not assume any obligation to update the forward-looking statements with respect to actual developments or events, general conditions, assumptions or other factors.
SOURCE: Zalando SE
View the original press release on ACCESS Newswire
FAQ
What is the offer price per share for ABOUT YOU in Zalando's takeover bid?
When does the acceptance period for Zalando's takeover offer end?
What percentage of ABOUT YOU shares has Zalando already secured?
What premium does Zalando's offer represent compared to ABOUT YOU's trading price?
When is the expected closing date for Zalando's acquisition of ABOUT YOU?
