That’s not how it works. Even if 90% had accepted the tender offer, the buyer consortium does not yet own them and cannot flag them. The buyer consortium has flagged the exceeding of the 5% threshold because those shares were bought from the stock exchange. Nor can one conclude from the share trading volumes whether 90% has been broken or not, because acceptances do not show up in trades. 90% acceptances may or may not have been reached.
6 Likes