Drillisch to review United Internet offer within two weeks
26 MAY 2017
In connection with the proposed acquisition of 1&1 Telecommunication SE by Drillisch AG, today United Internet AG, the parent company of 1&1, published the offer document for the concurrent voluntary public tender offer for Drillisch. In response, a spokesman for Drillisch stated:
"Drillisch has taken notice of the publication of the offer document for the concurrent tender offer by United Internet. In compliance with their statutory obligations, the Management Board and the Supervisory Board will thoroughly review the offer and expect to issue a reasoned statement within two weeks. The publication of the offer document initiates an intermediate stage of the overall transaction. The first step of the acquisition of 1&1 was successfully completed with the registration of the Capital Increase I in the commercial register on May 16, 2017. However, the expected growth opportunities and synergies can only be realized for the shareholders of Drillisch in case of a successful conclusion of the overall transaction. Therefore, we are continuously working towards the second step of the acquisition of 1&1 and ask our shareholders for approval at the extraordinary general meeting scheduled July 25, 2017."