Premiere prepares for possible News Corp offer
May 28, 2008
German pay-TV station Premiere has named two investment banks to represent the interest of all shareholders should News Corp make a takeover offer. Chief Executive Michael Boernicke said while News has raised its stake to 25.01 per cent he had no indication whether they intended to lift their stake to 30 per cent and trigger a tender offer for the company.
“But if it comes to a tender offer the executive board has to represent the interests of all shareholders,” Boernicke said. “Investment banks UniCredit and Morgan Stanley are monitoring the capital market and could support Premiere in its own transactions,” Boernicke added.