That is interesting. But what I don't understand is (and I haven't had time to read the offer documents since reading your post): why not just sell 5/8 of your LEI holding today at market before accepting the offer and the other 3/8 to Hochtief before the offer closing date. I thought there was a "record" date to determine your holding and thus the number you could sell into the offer and assuming that has already passed, you should be able to do the above.
I am correct this post of mine myself when I get to read the offer details later, if someone else hasn't done so.
LEI Price at posting:
$20.34 Sentiment: None Disclosure: Held