Bloomberg L.P. Acquires Brainpower

Apr 11, 2006


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Data and news provider Bloomberg L.P. will acquire Dutch investment data provider Brainpower NV for $40 million in cash to bolster its services to global investment managers. Bloomberg is paying 1.88 euros per share, or a premium of 20% to Brainpower's closing price and a 42% premium over its average price from the last four weeks.

Bloomberg said it would launch a tender offer for shares on the market within 15 business days. Brainpower's three top executives have already tendered their combined 50.67% stake in the company and the acquisition is conditional on 85% of the outstanding shares being tendered by the end of the offer period.

(www.bloomberg.com; www.brainpower.de)