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Originally Posted by rfranzq
The ability to unilaterally cancel such an 'agreement' seems to me to mean that such agreements are meaningless.
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I have no idea why they had this standstill agreement at all but I assume that it contained a clause that allowed to cancel it upon certain events such as the sale of a substantial asset.
Quote:
Could one bid one-tenth the value or a share for the remaining shares?
No doubt not many would submit them, but the bidder would be happy to get them.
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The offered price must be "reasonable", which is defined as the highest price for which the offerer bought shares of the target during the last year and if he bought no shares the average volume-weighted stock exchange price over the last year. There are a couple of exemptions explained
here which however does not seem to apply for AMX.
Since AMX has not purchased any additional KPN stocks since at least June 2012 the reasonable price will be based on the average VWAP which I guess will be below € 4.