Match.com has announced it intends to launch a voluntary public tender offer for all of the outstanding shares of Meetic S.A. at a price of euro 15.00 per share in cash. The offer price represents a premium of approximately 11.6% on the closing price of Meetic shares on May 27, 2011. Match.com owns approximately 27% of the outstanding shares of Meetic, which it obtained when it combined its European businesses with Meetic in 2009.
Marc Simoncini, Meetic’s founder and Chairman, has entered into a binding agreement to tender in the offer approximately 3.7 million shares, representing approximately 16% of the total number of shares outstanding. Mr. Simoncini will retain the balance of his stake (approximately 1.6 million shares, representing approximately 7% of the total number of shares outstanding) and intends to remain on Meetic’s Board.
Match and Meetic are a great, er, match. Expect Match to be looking hard at the South America and Asian markets now that eHarmony is launching in Japan. Match does have a presence in Asia but I have a heck of a time finding out how they are performing over there, especially with their social and dating partnerships in China.
