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ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

GTCR, Hormel, the Riverside Co-CEOs and Others Win M&A Mid-Market Awards
Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

Roundtable

Financial Services Companies Heat Up M&A Market
Speakers from Flexpoint Ford, Genstar Capital, Baird Capital, Madison Capital Funding and Katten Muchin Rosenman discuss the various factors playing a role in M&A activity within the financial services space

Expert's Corner

Pursuing Pharma Manufacturing
The fragmented pharmaceutical manufacturing industry provides plenty of opportunities for private equity investors, says JLL Partners founder Paul Levy

Strategic Buyer: Liberty Global Purchases Virgin Media

In a deal valued at $23.3B, two cable companies may merge to serve customers in 14 countries

Liberty Global Inc. (Nasdaq: LBTYA) is set to merge with Virgin Media Inc. (Nasdaq: VMED) in a deal valued at about $23.3 billion.

The transaction, should it be approved by shareholders, would serve more than 25 million customers in 14 countries.

Virgin supplies broadband Internet, television, phone and mobile phone services. The company is a part of the Virgin Group, started in 1970 by Richard Branson (pictured), who owns a three percent stake in the target. Virgin Group operates in the financial services, music, vacation and health and wellness sectors.

Liberty, an international cable service headquartered in Englewood, Colo., said in a statement that Virgin shareholders would receive $17.50 in cash per share, as well as Liberty stock. The transaction is equal to $47.87 per Virgin Media share—a 24 percent premium to Virgin Media’s closing price on Feb. 4, the companies said.

The deal comes as Virgin Media announced that its operating income for 2012 was £699 million, up from £540 million in 2011.

LionTree Advisors acted as Liberty’s lead financial adviser, Credit Suisse acted as financial adviser and global coordinator, and Shearman & Sterling and Ropes & Gray were legal counsel. Goldman Sachs & Co. and J.P. Morgan acted as Virgin’s financial advisers, while Milbank Tweed Hadley & McCloy LLP and Fried Frank handled Virgin’s legal matters.

 

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