JP paid $12 in early November. Usually, if one pays more in a takeover within a 6 month period from when you last bought, you would have to pay the difference to the previous selling parties. I think this is why the market is stuck on $12 at the moment, but I also think the market is wrong because, I suspect that if he does privatise, he will not be doing the buying but rather, putting his 53% into the pot as part of the bargain (being a controlling stake the bid for the balance could be unconditional) and the balance would be bid for by a partner or two to avoid any such issues....
New Feature Announcement!
We’re excited to introduce the DealRoom portal, now live on site, providing users with exciting access to private equity opportunities for both pre-IPO and publicly listed companies.
See full details by selecting the new menu item named 'DealRoom' on our main menu bar or click below.
Stay ahead of the market, with HotCopper.