Cairo Communication‘s tycoon Umberto Cairo raised its offer for Rcs Mediagroup last Friday July 1st bringing the proposed equity swap ratio to 0.17 Cairo Communication shares for each Rcs share from previous 0.16 ratio (see here the press release and here a previous post BeBeez).
On the basis of Cairo Communication’s closing price last Friday, the new proposed ratio values Rcs 0.765 euros per share and includes the 0.20 euros dividend per share paid by Cairo Communication last May 11th.
Cairo Communication’s new offer is still lower than the one proposed at 0.80 euros per share all cash by Investindustrial private equity firm and its partners through their veichle International Media Holding (see here a previous post by BeBeez).
On Friday July 1st Rcs’s Board said that International Media Holding’s offer is fair, even if it is in the lower range of a fair valuation ( see here the press release).
