The Lagardère group notes the position of the board of directors of LeGuide.com, which is unsurprising and is favourable to the status quo.
LeGuide.com’s press release contains no new information that was not already public.
The Lagardère group reaffirms that its offer is made at the fair price and is very attractive for the shareholders of the company.
The information published by LeGuide.com this morning on its prospects for growth and margin correspond to the high end of the assumptions bracket provided by its financial adviser on 22 May. The Lagardère group had already incorporated such information when it increased the purchase price of its offer on 5 June. It has also taken into account the risks in respect of, on the one hand, the implementation of the integration of Ciao and, on the other hand, the deep transformation of the digital market in the medium term in which strong competitors are emerging.
The final improved offer of the Lagardère group, made in cash at a price of 28 euros per share, represents a significant premium of 41% on LeGuide.com’s closing stock price on 4 May 2012 and of more than 50% on the three month average1.
It offers to the shareholders of LeGuide.com an immediate liquidity in a deteriorated market environment. It remains open until June 12.
1 Premiums calculated on figures as at 4 May 2012, last trading day before the announcement of Lagardère’s initial offer.
Lagardère is a world-class pure-play media group (Book and e-Publishing; Press, Audiovisual, Digital and Advertising Sales Brokerage; Travel Retail and Distribution; Sport Industry and Entertainment).
With a holding of 7.5%, Lagardère jointly controls EADS.
Lagardère shares are listed on Euronext Paris.