In today’s briefing:
- Naturgy’s Tender Offer: Exploring Spanish ‘Odd-Lot’ Priority and Potential €500 Upside for Shareholders
Naturgy’s Tender Offer: Exploring Spanish ‘Odd-Lot’ Priority and Potential €500 Upside for Shareholders
- Naturgy plans to repurchase 9% of shares at €26.5/share, with a potential €1.5/share profit opportunity.
- Spanish tender law Article 38.1 allows a linear distribution of 25% of shares among tendering shareholders.
- Previous similar tenders by Abertis and Duro Felguera saw priority allocations of 660 and 683 shares, respectively.
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