(Reuters) -German e-retailer Zalando said on Friday that it has secured the purchase of more than 90% of ABOUT YOU’s share capital in its public takeover offer, taking plans to buy the smaller rival a step further.
Zalando is set to buy the remaining shares, saying it has the “firm intention” to implement a squeeze-out of ABOUT YOU’s remaining minority shareholders for an adequate cash compensation that is yet to be determined.
The final results of the takeover offer, which expired March 6, will be published on March 11, it added.
(Reporting by Marleen Kaesebier in GdanskEditing by Ludwig Burger)
