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Dentsu gives details on cash offer for Aegis convertibles due 2015
By Marisa Wong
Madison, Wis., March 26 - Dentsu Inc. released details on its offer to purchase for cash all of Aegis Group Capital (Jersey) Ltd.'s outstanding £190.6 million 2.5% convertible bonds due 2015 guaranteed by Aegis Group plc. The offer relates to Dentsu's acquisition of Aegis, completed on Tuesday.
The offer began on March 14 and will expire at 1 p.m. ET on April 11, according to a news release.
Dentsu announced that the change-of-control date is March 26, and, based on a conversion price of £1.3912, the change-of-control amount is £172,512.00 per £100,000 principal amount of Aegis convertible bonds.
The offer amount is £173,762.00 per £100,000 principal amount of convertibles, provided that settlement of the cash offer occurs by April 19.
Dentsu is a Tokyo advertising and public relations company. Aegis is a media and digital communications group based in London.
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