Zalando (ZALG.DE) has officially launched a public tender offer for its rival, About You (YOUG.DE), following approval from Germany’s Federal Financial Supervisory Authority, BaFin. The acceptance period for the offer begins today and will conclude on February 17, 2025.
Details of the Offer
- Offer Price: Zalando is offering €6.50 ($6.71) per share in cash to About You shareholders.
- No Minimum Acceptance Threshold: The takeover is not subject to a minimum acceptance threshold, meaning that the offer could proceed regardless of the number of shares accepted.
Background and Timeline
The public tender offer follows Zalando’s announcement in December regarding its plan to acquire About You. This move represents Zalando’s latest step in expanding its footprint in the online retail sector, directly competing with other major players in the European market.