The last few percent don’t seem to be easy – currently at 85.92%, meaning there hasn’t been much significant growth anymore. The message above keeps us well updated – a month ago the figure was 85.47%. At the same time, the offer period has been extended again.
As of the date hereof at 08.00 (Norwegian time), and subject to customary verification, the Offeror has received acceptances of the Offer for a total of 5,504,972 Shares, which taken together with the 414,176,959 Shares held by the Offeror as of launch of the Offer and the 3,760,496 Shares acquired or agreed to be acquired outside the Offer during the Offer Period, equals 423,442,427 Shares, representing approximately 85.92% of the share capital and voting rights in the Company.
..subject to the extension of the Offer Period to 16:30 (Norwegian time) on 28 December 2023, as set out in the announcement dated 14 December 2023. Shareholders that want to accept the Offer must fill out and return the acceptance form which is included in the Offer Document..
However, contrary to what I thought at first, this nasty offer is going to go through at some point. The question really is at what price the remaining percentages will be scraped together to reach 90%. I don’t know if it’s possible that they would accept, for example, a situation where 87% of shares are acquired, and the remaining 3% are snatched from the market at a rising price. Because of this personal hope or expectation, I haven’t accepted the underpriced deal. But if such a scenario plays out, at what price would the final 10% be redeemed, and would things go “by the book” then? Does anyone have thoughts on this?