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BRIEF-NN Group to make 2.4 billion euro offer for Delta Lloyd
October 5, 2016 / 5:16 AM / a year ago

BRIEF-NN Group to make 2.4 billion euro offer for Delta Lloyd

Oct 5 (Reuters) - NN Group NV :

* NN Group intends to make an all-cash offer for Delta Lloyd of 5.30 euros ($5.94) per ordinary share

* Intended all-cash offer of 5.30 euros per share for all issued and outstanding ordinary shares of Delta Lloyd, for a total consideration of 2.4 billion euros

* A premium of approximately 53 pct over last 3-month average closing price and 29 pct over last closing price of 4.12 euros per share

* Increased scale and efficiency will drive significant expected EPS, free cash flow and DPS accretion

* NN Group intends to finance all-cash offer using existing cash resources and external debt

* NN Group will submit a request to Dutch Central Bank for a declaration of no objection to pursue transaction Source text for Eikon: Further company coverage: ($1 = 0.8916 euros) (Gdynia Newsroom)

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