6/12/2019, 1:35 PM (Source: TeleTrader)
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Axel Springer stock highest in over 9 months on KKR deal

Shares of German publisher Axel Springer SE reached their highest value in over nine months after the announcement of a minority-stake buyout by the United States investment firm KKR & Co. Inc.

The deal stipulates KKR will launch a public tender for all outstanding shares of Springer at a price of €63 per share, a 39.7% premium on the May 29 stock price and a 31.5% premium on the three-month average price.

Stocks of Bild publisher soared 11.25% at 1:32 pm CET, going for €62.30 per share, the highest value since August 30, 2018.

Breaking the News / NI