We seem to be in agreement that those who buy LEI on the market after the offer commenced can accept Hochtief's offer for those shares up until the closing date. What wasn't so certain is whether shareholders who have already accepted Hochtief's offer could then go out an buy more LEI on the market and accept the offer for those new shares too. I believe this can be done.
Last week, as I mentioned in an earlier post, I accepted Hochtief's offer and my account with Interactive Brokers showed my acceptance at 37.5%. That same day I replaced the shares I sold to Hochtief with the equivalent amount of new LEI shares (this was before I was aware of the offer details and the LEIE issue). When I check my account details with IB now, it shows my acceptance as only 27% which is 3/11 of my total holding (that from prior to last week and the additional LEI shares bought). Although I haven't tried it, I think it will allow me to increase my acceptance to include the newly acquired LEI shares should I chose to do so, which would then bring my new acceptance % back up to 37.5%.
LEI Price at posting:
$20.06 Sentiment: None Disclosure: Held