Post-tender offer price?17 Jan 2019 21:25
This tender offer is just like a big stock buy back?
They are reducing the number outstanding stock by 37% but using £509mil to do it?
So share price wont really change?
Market cap will drop £1,375 -> £875mil
and shares outstanding will drop 707mil -> 445mil
NO FREE LUNCH!
so now, at current market price, the tender offer price does not seem really exciting, unless we expect share price to DROP post-tender, as the £1.95 is artificially keeping it inflated?