VW Consortium Just Shy of 90% Threshold of Europcar

Event-Driven

285 Views, 23 Jun 2022 18:11

EXECUTIVE SUMMARY

At the expiry of the initial offer period, a total of 87.38% of the share capital was tendered, just shy of 2.62% to implement a squeeze-out.
The market believes the 90% threshold will be reached, thus enabling the squeeze-out procedure. This means that the additional €0.01/share price supplement should be paid.
Gross spread is 0.24% (shares trade above the €0.5 offer price) and the estimated annual return is 4.82% (estimated settlement on 11 July). Recommendation is long and tender.

detail (3-minute read)

WHAT’S TRENDING

Insights