$ZAL (-0.7%) Zalando wants to $YOU (+0.31%) take over About You

In a press release published today, Zalando announced its intention to make a takeover bid for the entire majority of shares in About You. The Berlin-based DAX-listed company, already a leading online fashion retailer in Europe, is thus aiming for an even stronger market position.

The offer stipulates that Zalando will pay 6.50 euros in cash for each About You share. This move was supported by the management boards of both companies as well as About You's major shareholders, including the Otto Group. The major shareholders hold a total of 73 percent of the shares.

With this acquisition, Zalando aims to expand its market position in the European e-commerce market by broadening its product range and reach.

This takeover is likely to have a significant impact on the European e-commerce market. Observers expect the sector to consolidate and competition between the major players to intensify. New opportunities could arise for consumers, such as an even wider range of fashion and even greater personalization of the offering.