Shearman, Ropes Aid Liberty In $16B Virgin Media Buy

Law360, New York (February 5, 2013, 12:27 PM EST) -- Colorado-based cable firm Liberty Global Inc. will acquire U.K. cable provider Virgin Media Inc. for an equity value of $16 billion that includes shares and nearly $6 billion in cash, the companies said Tuesday.

The companies put the enterprise value of the deal at more than $23 billion, a figure that reflects equity, debt and potentially other features such as options. The deal places a 24 percent premium over Virgin Media’s closing price Monday, the companies said in a statement.

“Adding Virgin Media to our large...
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