Liberty Global Plc (LBTYA:US), the European cable company controlled by billionaire John Malone, plans to name Baptiest Coopmans as head of Ziggo NV (ZIGGO) after its takeover of the Dutch cable operator for about $7 billion.
Coopmans, 49, now head of Liberty’s Dutch operations, will become Ziggo’s chief executive officer when the offer is declared unconditional, a step in the takeover process, Liberty said today in a statement. Bert Groenewegen will continue as Utrecht-based Ziggo’s finance chief, Liberty said.
Liberty, which announced the bid in January, is now offering 35.74 euros for each Ziggo share, higher than the 34.53 euros originally as part of the offer is in Liberty shares, which have risen. The cable operator said it has filed takeover documents to Dutch and European regulators to gain approval. The offer starts July 2 and ends Sept. 10, though the offer period may be extended.
Ziggo shareholders will vote on the offer on Aug. 26.
Shares of Ziggo advanced less than 0.1 percent to 33.65 euros at 9:26 a.m. in Amsterdam.
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