Stroeer SE & Co. shares rose sharply on Thursday after reports surfaced that private equity investors I Squared and Blackstone Inc. are considering a buyout approach for the German media company.
According to people cited in the report, the contemplated bid could place a valuation on Stroeer near €2.5 billion, roughly $2.9 billion. The putative offer is said to be in the mid-€40s per share, the people added.
In Frankfurt trading on Thursday afternoon, Stroeer stock was quoted at €38.02, implying a market capitalization of about €2.1 billion. The shares have lost roughly 27% of their value over the past 12 months.
The report also notes that Stroeer's annual general meeting is set for early June. Sources indicate that deliberations are underway but no final decision has been reached.
Market context and immediate move
The reported interest from private equity coincided with an 8% intraday gain in Stroeer's shares. The prospective valuation cited in the report contrasts with the company's prevailing market capitalization at the reported trading price.
What remains uncertain
- No formal bid has been announced; discussions are described as ongoing.
- Details of any potential offer, including final terms and timing, have not been confirmed.
Investors and market observers will likely watch developments closely as Stroeer approaches its annual general meeting in early June, while parties within the reported discussions consider next steps.