Scout24 being up for sale means that there are private equity houses looking to make a bid. These firms have stated that they now control a stake of 8.7 percent and are confident that they have a firm grasp on the German-based car and property classifieds group.
The two firms in question are Hellman & Friedman and Blackstone. They only have days to win the majority support they need for their offer to reign victorious. The two firms have offered 46 euros per share, bringing Scout24's value to 5.7 billion euros including debt.
The bidding companies have neither claimed to offer more or lower the acceptance threshold on the deal, something Scout24 management has recommended. If they fail to grasp the majority share, Hellman & Friedman and Blackstone will not launch a new offer for 12 months.
Hellman & Friedman is a leading private equity firm focused on market-leading firms with growth potential. San Francisco, New York and London. The Blackstone Group L.P. is an American multinational private equity, alternative asset management and financial services firm based in New York City. As one of the largest alternative investment firm in the world, Blackstone specializes in private equity, credit and hedge fund investment strategies.
These open requests are political moves that bidders and shareholders use to test out the waters and each other's resolves in hopes that it will end in their own advantage.
Shares in Scout24 closed at 45.20 euros, suggesting some investors see the deal falling through.
Edited by V. Haviland