Having turned them down in February, it did not take long for Canal+ to make a new offer to acquire local entertainment giant MultiChoice. The new offer is set at R125 per ordinary share, which is up considerably from the R75 made earlier in the year.
It therefore looks like the executives and board at MultiChoice have a price, with the new offer translating to a little over R35 billion. While it remains to be seen if the deal gets across the line, especially as regulatory approval still needs to be factored in, the pair of companies have entered into a cooperative agreement regarding the new terms.
““If Canal+ acquires any additional MultiChoice Shares during the course of the Offer at a price higher than ZAR 125.00, then in terms of Regulation 111(6) of Chapter 5 of the Takeover Regulations, Canal+
will be obliged to increase the Offer Price (as defined below) to not less than the highest consideration paid per MultiChoice Share so acquired, and will do so accordingly,” MultiChoice noted in a statement.
Along with a blockbuster deal being set in motion, for this morning’s SPEEDRUN roundup, we’ve collated stories from across a number of industries. To that end, scroll down further to find out more about Gauteng’s failure to launch its new training programme, Eskom struggling to keep power up and running in the Western Cape, Elon Musk taking jabs at Brazil over X, and a review of Huawei’s latest mid-range smartphone.
