Aspiro Shareholders Question Jay-Z’s $56M Acquisition Offer

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Jay-Z offered $56 million to buy Aspiro AB, the company behind Tidal and WiMP. Aspiro’s Board of Directors want shareholders to accept Jay-Z’s offer. But is $56 million enough for a company that made $35 million in 2014? Shareholders aren’t so sure…

Here’s a statement from Aspiro Shareholders Association:

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The minority shareholders of more than 10% of the shares of Aspiro are questioning the offered price of the shares.

The association has audited the written offer from the Panther Group (Jay-Z) and has not yet taken a final position.  We believe that the lack of information from Aspiro makes it hard to evaluate the offer correct.  A consistent view of the minority shareholders who have registered their holdings with the association is that the offer does not sufficiently value the company’s potential.  Especially given the extensive investments and launches conducted during the fall of 2014. In addition launches are planned in a further 20 countries in Q1 2015.

Aspiro Shareholders Association has raised questions about the company to the “independent Bid Committee,” which we requested answers to a number of important issues and we have so far not received a response.

Shareholders in the minority have loyally contributed to the financing of Aspiro up to today’s level. The offer provides no premium for this, which feels very unsatisfactory.

The Board of Directors of Aspiro Shareholders Association
Sune Karlsson – Thomas Treitler – Gunnar Mårtensson – Sven Olof Nilsson

The longer version in Swedish is published on the associations web

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Photo from Flickr by David Goehring used with the Creative Commons License.

5 Responses

  1. why-the-fluff?

    “But is $56 million enough for a company that made $35 million in 2014?”

    ‘made’ isn’t necessarily profit. you can “make” a billion dollars, but if it costs you a billion and one dollar, you aren’t a billion dollar company, you actually loose money…
    This article ,per usual, is light on fact -heavy on speculation…

    • Oscar

      made $35 million in ONE year, that means he would drive in win in the mid of second year. definitely a good deal and with jay z’s name their US launch might definitely get new subscribers, so it is a very good deal for him

  2. Jeff Robinson

    What they should be questioning is why this Tidal Hifi is failing to pay royalties.

  3. Anonymous

    The same companies and circles of people who who pay wages commensurste with experience suddenly want more money commensurate with potential??? … ill remember that next time I’m in a job interview, if there is a next time.

  4. Remi Swierczek

    Jay-Z grossly overpaid unless the outfit will convert to discovery based music streaming STORE!