Mergers and Acquistions News
Categories: Media & Information Services
February 27th 2009, 14:28PM
GoAdv has moved for LeGuide.com, an online publisher of shopping guides.
If the acquisition approach is accepted, GoAdv says the deal will see the firm establish itself as Europe's foremost online shopping and media company.
GoAdv is currently a major shareholder in LeGuide.com, holding more than ten per cent of voting rights.
As part of the proposed acquisition, GoAdv will offer to LeGuide.com shareholders 15.19 euros (£13.50) for each share - a 9.2 per cent premium in relation to the three month weighted average price of a LeGuide.com share.
GoAdv says the move aims to capitalise on the resilience of e-commerce, despite the economic downturn, pointing to figures which suggest that UK consumers are expected to spend £44.9 billion by 2012 on online retail sales.
President of the GoAdv Group Luca Ascani explains:"Online shopping is a huge growth opportunity in the UK.
"By bringing LeGuide.com under the GoAdv corporate umbrella it will not only help us to grow our business but also accelerate LeGuide.com's expansion into Europe."
GoAdv is an online media company, claiming 17.5 million users each month.
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