Edition:
United Kingdom

CK Asset Holdings' Unit To Buy Greene King For 850 Pence Per Share In Cash


Monday, 19 Aug 2019 

Aug 19 (Reuters) - Greene King PLC ::CK ASSET HOLDINGS GREENE KING PLC - RECOMMENDED CASH OFFER FOR GREENE KING PLC.GREENE KING PLC - UNDER TERMS OF ACQUISITION, EACH GREENE KING SHAREHOLDER WILL BE ENTITLED TO RECEIVE: FOR EACH GREENE KING SHARE 850 PENCE IN CASH.GREENE KING - CASH CONSIDERATION UNDER TERMS OF ACQUISITION VALUES ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF GREENE KING AT ABOUT £2.7 BILLION.GREENE KING PLC - ACQUISITION IMPLIES AN ENTERPRISE VALUE OF APPROXIMATELY £4.6 BILLION.GREENE KING PLC - GREENE KING DIRECTORS INTEND UNANIMOUSLY TO RECOMMEND THAT GREENE KING SHAREHOLDERS VOTE IN FAVOUR OF SCHEME AT COURT MEETING.GREENE KING - CO'S DIRECTORS, ADVISED BY CITIGROUP, ROTHSCHILD & CO AS TO FINANCIAL TERMS, CONSIDER TERMS OF ACQUISITION TO BE FAIR, REASONABLE.GREENE KING - CASH CONSIDERATION PAYABLE BY CK BIDCO TO CO'S SHAREHOLDERS UNDER TERMS OF DEAL WILL BE FUNDED FROM EXISTING CASH RESOURCES OF CKA GROUP.GREENE KING PLC - CKA DIRECTORS INTEND UNANIMOUSLY TO RECOMMEND THAT CKA SHAREHOLDERS VOTE IN FAVOUR OF ACQUISITION.