Thanks for the great write-up! Could you explain why the minimum payment in a sqeeze-out is the BV of the company? I struggle to find info regarding potential pay-out in a Spruchwertverfahren. Thanks a lot
I feel like your thesis is very optimistic: it's easy to say they will do a take over at book value. If the shareholder is happy with his 89.6% and this scenario doesn't play out, nothing of it remains.
ok, it sounds like a "must" :-). Its not legally required from the start. The german takeover laws speaking only from the "angemessene Barabfindung". in the end the judge decide whats "angemessen". There are cases in which the judge ignore the 3M VWAP completely.
Don´t get me wrong, I´m a big friend of Squee-out-plays and and try to be a part of it since nearly 20 years. I´m also invested in LS.
Maybe it was me ;)
Certainly, it is not guaranteed that they will do a Squeeze-Out. As I wrote, I think even, if the company stays public, it is undervalued.
Thanks for the great write-up! Could you explain why the minimum payment in a sqeeze-out is the BV of the company? I struggle to find info regarding potential pay-out in a Spruchwertverfahren. Thanks a lot
Sebastian, are you also "cinche61" on MicroCap Club. Seems like a similar thesis was posted there. Thanks!
https://forums.microcapclub.com/topic/3586-special-situation-ls-invest-ifahm/
Seems the tender offer is trading at 4.6 EUR/share atm. The stock is delisted
I feel like your thesis is very optimistic: it's easy to say they will do a take over at book value. If the shareholder is happy with his 89.6% and this scenario doesn't play out, nothing of it remains.
ok, it sounds like a "must" :-). Its not legally required from the start. The german takeover laws speaking only from the "angemessene Barabfindung". in the end the judge decide whats "angemessen". There are cases in which the judge ignore the 3M VWAP completely.
Don´t get me wrong, I´m a big friend of Squee-out-plays and and try to be a part of it since nearly 20 years. I´m also invested in LS.
thanks for sharing it looks very interesting, which broker do you use? because on ibkr it is not exchangeable