He backed away from a tender offer for Finova Group on Monday, on the ground that last week's attack was an act of war.
Panasonic's board was expected to officially extend a tender offer on Friday, when a press conference is scheduled, and the purchase may be completed by February.
"The odds are 50-50 that they'll do it without a proxy fight or a tender offer at this point, " Owers says, with the odds of a less-than-friendly combination increasing every day.
Seagate would then commence a tender offer for the remaining outstanding shares of LaCie (followed as the case may be by a squeeze-out procedure), subject to a clearance decision from the AMF.
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He has accumulated a 49% stake in Stallergenes, a European biopharmaceutical firm specializing in the treatment of severe respiratory allergies by allergen immunotherapy, and has made a tender offer for the rest of the shares.
The next year, Advantage Partners made a tender offer bid and acquired all outstanding shares for JPY 250 billion, of which JPY 170 billion was financing provided by syndicate whose members included Lonestar, Shinsei Bank, and Credit Agricole.
And there is scant prospect of a hostile tender offer to rescue the shareholders of a mismanaged private REIT.
We also are prepared to commence a cash tender offer reflecting our higher price.
If this were any ordinary corporation, it would probably have been sold years ago in a lucrative tender offer.
Anticipating a hostile tender offer, Keith Busse should have his company borrow money and use the proceeds to buy in shares.
We believe that an acquisition can be completed expeditiously and are prepared to commence a cash tender offer with no financing or due diligence conditions.
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And to create the holding company they will need an exemption from having to make a mandatory tender offer for all shares from France's Financial Markets Authority (AMF).
Mordashov, perhaps mindful of the cool reception given in May to the Severstal merger by Arcelor's rebel shareholders, also confirmed his intention not to increase his shareholding in Arcelor above 33.3%, without making a mandatory tender offer to all shareholders--in accordance with Luxembourg law.
That amount will be given to the company once it completes a preferred stock tender offer.
Subsequently, he was able to lift his stake above 80% though a USD 30 tender offer and various open market purchases.
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But analysts expect that if those rights were up for offer again, a tender process would be resolved quickly.
It would merely require an open tender offer to existing shareholders at a price attractive enough to get majority ownership of all voting shares.
Of course, if you thought the tender offer were going to fail then it was not such a good deal, since you would expect the stock to drop back down to the mid-twenties.
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The cash tender offer commenced on August 23, 2010 by Dell, through a wholly-owned subsidiary, is for all outstanding shares of 3PAR common stock, without interest, and subject to reduction for any federal back-up withholding or other taxes.
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Following acceptance for payment of shares in the tender offer and completion of the transactions contemplated in the merger agreement, 3PAR would become a wholly-owned subsidiary of Dell.
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