BIT:IVG
Iveco Stock Leaves €60 Per 1,000 Shares as Tata Tender Opens
Iveco Group enters Monday's tender at €14.04 a share. Tata Motors is offering €14.10 in cash.
The market is offering €60, not a windfall
Gross merger-arbitrage arithmetic at the September 4 close
Buy 1,000 shares€14,040Friday reference cost
Tender consideration€14,100If the offer completes
Gross difference€600.43% before costs
Using October 26 as the endpoint, the simple annualised rate is about 3.2%. Actual settlement comes later, so that is a ceiling rather than a promised return.
Offer terms: Iveco Group. Closing reference: Borsa Italiana.
Iveco closed within six cents of Tata's price
Daily Milan closes, euros; the dashed line marks the €14.10 cash offer
As of . Unadjusted historical closes: Stock Analysis. Latest official quote reference: Borsa Italiana.
Two votes and one acceptance test remain
The regulatory work is done. Shareholder mechanics now set the path.
Sep 7Acceptance opensShareholders may tender at €14.10.
Oct 16Iveco EGMBack-end resolution can lower the threshold.
Oct 26Acceptance closesFinal result and settlement follow.
95% or moreDutch legal squeeze-out is the stated route.
80% to 95%Post-offer demerger and liquidation is intended if approved.
Dates, thresholds and contemplated routes come from the September 4 offer release.
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