The takeover offer for About You, which is still subject to regulatory approvals, is expected to be completed in summer 2025, reported Zalando in a recent release.
On this basis, Zalando aims to carry out a squeeze-out of the remaining minority shareholders of About You after completion of the takeover offer and the agreements concluded with the main shareholders of the company.
Zalando intends to implement the squeeze-out in the context of a merger of About You as the transferring entity into Zalando or a wholly-owned subsidiary of Zalando as the acquiring entity (squeeze-out under merger law), unless Zalando reaches a shareholding of 95% of the relevant shares, which would allow the implementation of a direct squeeze-out without a merger. In both cases, Zalando would acquire the remaining About You shares in return for an appropriate cash compensation. The amount of this cash compensation per About You share will be determined at a later date, shared the company.
Zalando submitted a 1.13 billion euro takeover bid for About You at the end of 2024, which was later accepted by the management of About You. Zalando expects the takeover to generate an additional operating profit of 100 million euros per year in the long term.
