The online retailer Zalando has launched its public takeover offer for competitor About You.
The acceptance period is expected to run until February 17, the company announced on Monday in Berlin. As already known, Zalando is offering 6.50 euros per share, which, according to previous information, values About You at around 1.2 billion euros. The takeover offer is not subject to a minimum acceptance threshold. About You’s board of directors and supervisory board welcomed and supported the offer, it said.
Through agreements with the main shareholders, the Otto Group, the Otto family, Heartland and all three founders and board members of About You, as well as through further acquisitions, Zalando has already secured almost 80 percent of the company’s share capital.
The transaction is expected to close in summer 2025, subject to obtaining the necessary regulatory approvals. (dpa)