TalkTalk directors agree £1billion takeover

by Stephen Chapman
TalkTalk has confirmed this morning that it has agreed a £1.112bn takeover from its second largest shareholder, Toscafund Asset Management.
The Salford Quays-based business said that it had reached agreement on terms and was recommending that shareholders accept the 97p cash offer.
"Having considered in detail the best interests of all shareholders and TalkTalk as a whole, the Independent TalkTalk Directors believe that the cash offer from Toscafund provides an opportunity for shareholders to recognise immediate value for their shares at a premium of approximately 26% to volume-weighted average price for the three month period ended 7 October 2020,” said Ian West, Senior Non-Executive Director of TalkTalk, on behalf of the Independent TalkTalk Directors.

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