News Corp., Permira Advisers to take NDS Group private for $63/share
BOSTON, Aug 14, 2008 (Thomson Financial via COMTEX) -- By Staff Reporter
Companies: NDS Group PLC (NNDS),
News Corp. and Permira Advisers LLP (the Permira Newcos) on Thursday said they have agreed to acquire all issued and outstanding Series A ordinary shares of NDS Group Plc for $63 per share in cash.
The consummation of the transaction would result in Permira Newcos and News Corp. owning about 51% and 49% of NDS, respectively.
The transaction is expected to close by the end of the year or early 2009.
"With the convergence of broadband and broadcast technology, new frontiers lie ahead for NDS," NDS Group said. "News Corp. has decided to reduce its ownership position in NDS so that NDS can capitalize on these new opportunities with a more independent structure and the expertise of Permira."
Shares of News Corp. closed Wednesday at $14.10.
Casey Logan cl/vj
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Companies: NDS Group PLC (NNDS),
Related terms: acquisition, bandwidth, technology
