Ipsos to Issue Shares to Part-Fund Synovate Buy

Ipsos is planning to issue around EUR 200m worth of new shares, to part-fund its acquisition of Synovate.

The EUR 596m (£525m) deal, agreed in July and set to create the world's third largest market research company, will be funded by a combination of cash, new debt financing, and this rights offering to Ipsos shareholders.

Nearly 11 million new shares will be issued at the price of EUR 18.25 per share, in the ratio of eight new shares for every 25 of the firm's existing shares.

On top of the EUR 200m, the balance of the acquisition price will be funded by a new EUR 250m loan, existing credit lines and available cash.

The subscription period will be open from September 12 through September 22, 2011, and the acquisition is expected to close by the end of this month.

Web sites: www.ipsos.com and www.synovate.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

• Ipsos UK
• All news
• MrWeb info