So can we buy it now at 19 and sell for 24 to Vivendi in December? What is the catch? Can Vivendi opt not to buy our shares? If you could share the terms of the offer would be great!
For Lagardère, the subsequent offer is only open to those who had their shares when the first offer was launched. These shareholders who didn't bring to the first offer each got a right to sell which they can exercise until the 15th of December.
So unfortunately it is not that automatic and for the time being Vivendi got some additional shares through the subsequent offer but not that many. We will see on the 15th if they suddenly get lots of shareholders who will bring their shares on the last day.
Thanks for the update
So can we buy it now at 19 and sell for 24 to Vivendi in December? What is the catch? Can Vivendi opt not to buy our shares? If you could share the terms of the offer would be great!
For Lagardère, the subsequent offer is only open to those who had their shares when the first offer was launched. These shareholders who didn't bring to the first offer each got a right to sell which they can exercise until the 15th of December.
So unfortunately it is not that automatic and for the time being Vivendi got some additional shares through the subsequent offer but not that many. We will see on the 15th if they suddenly get lots of shareholders who will bring their shares on the last day.