RE:51% Tendered Shares?We will find out when the offer expires, until then the offer is valid to anybody who wishes to tender their shares.
The silence isn't necessarily cause for concern. IPL managment has rejected and BIP hasn't reacted other than to complain that IPL hasn't allowed it to see the data room because IPL has rightfully refused to abide by their terms. What else do you expect? The share price says it all. Nobody who isn't in bed with BIP is going to tender their shares, just not happening.
There may be a little sell-off in dissapointment from anybody who jumped on board expecting a bidding war. The share price may also go up once the weight of the BIP offer is relieved. There is really no sure way that it will go.
As already discussed on this forum, BIP will need 66 % of all the shares to be tendered to be able to proceed to a 2nd stage squeeze out.
Only if they get 90% of the shares can they force the remaining 10% out at their offer price.
IMO this bid is going nowhere. I think your fear is unsubstantiated and not based in any fact unless you have some evidence you would like to bring forward regarding the positions of these shareholders that have significant ties to BIP.
Read up on how take-over's work. It will do you good and maybe lessen your fears. BIP has a steep hill to climb. I think they just wanted to feel out IPL shareholder sentiment, and see what information they could render from IPL management.
Also as shareholders themselves, they (BIP) likely wanted to light a little fire under managements a$$ just to remind them that they (management) serve shareholders. That's my view on things. I could be wrong, there never is any certainty when it comes to equity stock.
Cheers
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