Believes Offer Substantially Undervalues the Company and Neglects Rights of Minority Shareholders
GREENWICH, Connecticut and AMSTERDAM, Oct. 1, 2020 /PRNewswire/ -- Lucerne Capital Management ("Lucerne"), a registered investment adviser managing funds that own approximately EUR 94 million of shares of Altice Europe N.V. (ATC.AS) ("Altice Europe" or the "Company"), today delivered a letter to the Altice Europe Board expressing its deep concern about the all-cash offer of EUR 4.11 per share for all common shares A and common shares B of Altice Europe by Next Private B.V. (the "Offer").
As a long-term shareholder of Altice Europe stock, Lucerne outlines in the letter that the Offer is opportunistic, significantly undervalues the Company and is structured in a way that neglects the rights of Altice Europe minority shareholders. Specifically:
The full text of the letter sent to the Altice Europe Board of Directors can be found here: https://hubs.ly/H0xfdZM0
About Lucerne Capital Management
Founded in 2000 by Pieter Taselaar, Lucerne Capital Management is an investment firm specializing in bottom up stock selection with a focus on European markets.
Steve Bruce/Taylor IngrahamASC Advisors203-992-1230