tag:blogger.com,1999:blog-3120517700412488632.post5366795131013015708..comments2023-10-11T04:04:02.959-07:00Comments on Value Investing to Investing Values: Mather & Platt Delisting - Offer AcceptanceNinad Kunderhttp://www.blogger.com/profile/14275940021296930028noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3120517700412488632.post-1892461921384528392008-12-05T18:48:00.000-08:002008-12-05T18:48:00.000-08:00Hi Ranjith I m sure the FCI OEN offer turned out p...Hi Ranjith <BR/><BR/>I m sure the FCI OEN offer turned out profitable for you. <BR/><BR/>Coming to your query, In case the company doesnt get the prescribed 20% in a mandatory open offer then it picks whatever number of shares that have been tendered. <BR/><BR/>There could be other open offers that could be made which are not mandatory in nature in which case the company will in its offer document state whether the open offer is subject to a minimum level of acceptance. So in case the company receives less than the minimum level of acceptance it can choose not to accept the shares tendered.<BR/><BR/>Trust this answers your query. <BR/><BR/>Cheers <BR/><BR/>NinadNinad Kunderhttps://www.blogger.com/profile/14275940021296930028noreply@blogger.comtag:blogger.com,1999:blog-3120517700412488632.post-90594733380337395692008-12-05T12:20:00.000-08:002008-12-05T12:20:00.000-08:00hello sirbeen following your blog for a fair bit o...hello sir<BR/><BR/>been following your blog for a fair bit of time now. I must say it has been quite enlightening. <BR/><BR/>My first foray into arbitrage was with the delisting of FCI OEN connectors.. but i must admit that my inhibitions were kind of offset with the fact that i knew the management heh.<BR/><BR/>I have a doubt. When the open offer is triggered, the company has to make a bid for 20% equity...but what if it doesnt get the 20%? <BR/><BR/>sorry if i sound too naive. thanking you in advance<BR/><BR/>RanjithREVerenDhttps://www.blogger.com/profile/14638844613282340183noreply@blogger.comtag:blogger.com,1999:blog-3120517700412488632.post-81987763703807979302008-12-02T10:28:00.000-08:002008-12-02T10:28:00.000-08:00Hi Subhankar You are right about that hence i exit...Hi Subhankar <BR/><BR/>You are right about that hence i exited part of my portfolio thru the stockmarkets around the 200 mark bcos I was looking at a discovered price in that range. <BR/><BR/>However once discovered price range moved towards the 250 mark then the gap between the market price and the likely discovered price was significant to go the tender route. <BR/><BR/>Cheers <BR/><BR/>NinadNinad Kunderhttps://www.blogger.com/profile/14275940021296930028noreply@blogger.comtag:blogger.com,1999:blog-3120517700412488632.post-7744932317920279492008-12-02T09:03:00.000-08:002008-12-02T09:03:00.000-08:00Tendering shares to the company in an open offer/b...Tendering shares to the company in an open offer/buyback means paying capital gains tax, as no STT is paid for the transaction. Wouldn't one be better off by selling in the market?Subhankarhttps://www.blogger.com/profile/13248068905130821262noreply@blogger.com