Zalando SE (ZLNDY), an online retailer of
fashion and lifestyle products, announced the launch of a 6.50 euros
per share public tender offer for About You, following the approval
of the German Federal Financial Supervisory Authority (BaFin).
The Acceptance period starts today and is expected to end on 17
February 2025. The Takeover Offer is not subject to a minimum
acceptance threshold. Closing of the transaction is expected in
summer of 2025, the company said.
The Offer price of 6.50 euros per share represents a premium of 12%
to the median analyst target price of 5.80 euros per share and a
premium of 107% to About You’s 3-month volume-weighted average share
price on 10 December 2024.
Zalando noted that it has secured about 80% of About You’s share
capital for the transaction through agreements with major
shareholders-Otto Group, Otto Family, Heartland, and the three
founders and management board members of About You-as well as through
additional purchases.
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.
