PARIS, Dec 16 (Reuters) - Altice Europe NV said on Wednesday its founder Patrick Drahi has raised to 5.35 euros ($6.53) per share from 4.11 euros his offer to take the telecommunications company private.
The company said in a statement that shareholders including Boussard & Gavaudan, Elliott, LB Partners, Lucerne and Sessa, have committed to tender their shares under the new proposal.
“This revised offer represents a significant increase in price, demonstrating that the company and its independent directors recognise the inherent value of Altice Europe stock”, Lucerne Capital said in a separate statement.
Altice Europe also said that investors will withdraw complaints they had filed at an Amsterdam court to block Drahi’s bid.
Drahi, who controls 77.8% of the votes in Altice, offered on Sept. 11 to buy all the shares in the group he does not already own at 4.11 euros each.
Shares in Altice Europe were up 23.34% at 0828 GMT
$1 = 0.8195 euros Reporting by Matthieu Protard and Gwenaelle Barzic, editing by Louise Heavens