Dutch operator group KPN recently confirmed that it has recently rejected an unsolicited high level approach by EQT/Stonepeak for a takeover of KPN.
The EQT/Stonepeak proposition did not include an offer price. With this announcement, KPN adds it also recently rejected an unsolicited approach for a takeover of KPN made by KKR.
KPN's Boards carefully considered whether the two approaches were in the best interest of KPN compared with KPN’s successful existing strategy for sustainable success and long-term value creation of the business, taking into account the interests of its shareholders and all its stakeholders, including customers, employees, creditors and bondholders, suppliers, business partners, government and Dutch society at large.
KPN's Boards concluded to reject both unsolicited approaches as they did not provide tangible and material added value to KPN’s widely supported new strategy.
