5/30/2019, 10:13 AM (Source: TeleTrader)
more TeleTrader news

Axel Springer spikes on talks with KKR

Bild publisher Axel Springer SE reached a valuation of €5.89 billion on Thursday in early trade in Frankfurt after revealing it is negotiating with KKR and Co. and Friede Springer about a strategic investment. There has been no deal yet but the buyout firm is on track to organize a tender offer for shares held by minority investors, according to the statement.

Springer, vice chairman, largest shareholder and widow of the group's founder, intends to keep the stake, as does chief executive Matthias Doepfner, the company said. Its portfolio includes Business Insider. The transaction would take Axel Springer private. It said other options such as subsequent corporate structural measures are on the table.

Shares were 20.62% up at €54.4 at 9:58 am CET after touching €54.5 for the first time since February 6. They lost 10.8% of value in the past year, compared to a pullback of 3.6% in the benchmark Stoxx Europe 600 index.

Breaking the News / IT