Liberty Global offers $16B for Virgin Media

U.S. cable company Liberty Global has agreed to pay $16 billion in cash and stock for Britain's Virgin Media. Liberty says Virgin shareholders would get the equivalent of $47.87 per share, a 24% premium to Virgin's closing price Monday. The acquisition, subject to regulatory and shareholder approval, would give Liberty access to Europe's biggest cable market.

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New York Times (tiered subscription model), The · Broadcasting & Cable

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