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KPN to launch tender for Getronics' 5.5%, 2.75% and 3.875% convertibles
By Susanna Moon
Chicago, July 30 - Royal KPN NV said it plans to make a tender offer for Getronics NV's 5.5% unsubordinated convertible bonds due 2008, its 2.75% unsubordinated convertible bonds due 2010 and 3.875% unsubordinated convertible bonds due 2014.
For each €1,000 principal amount of the 5.5% convertibles, the company will pay €1,040 in cash plus accrued interest. Of the €100 million issue, €10,869,000 remains outstanding.
For each €50,000 principal amount of its €150 million 2.75% convertibles, the company will pay €50,500 in cash plus accrued interest.
For each €50,000 principal amount of the €95.05 million 3.875% convertibles, the company will pay €52,500 in cash plus accrued interest.
The company said it plans to make a cash offer of €6.25 per share for Getronics, a 23% premium over the closing price on July 27.
KPN is a telecommunications company based in Amsterdam, Netherlands. Getronics is a communication technology company based in Amsterdam, Netherlands.
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