Axel Springer Cranks Up SeLoger Bid To €634M

Law360, New York (January 18, 2011, 6:24 PM EST) -- German media giant Axel Springer AG announced Tuesday that it has upped its bid for SeLoger.com SA by 12 percent, bringing the latest offer for the French publisher of online property ads to €634 million ($848.4 million).

The companies said in a joint statement that Axel has agreed to revise its prior offer — which was rejected as too low — from €34 per share to €38.05 per share as part of an agreement worked out on Monday.

SeLoger's supervisory board has agreed to recommend the...
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