The offer represents an all-time high and is a knockout bid. While the timing of regulatory approvals is a risk, the transaction is a done deal.
What is covered in the Full Insight:
KKR’s Pre-conditional Tender Offer
Details of the Offer
Shareholder Information
Auction Process
Valuation
Boomeranged on Wed, 21 Aug 2024 15:47
The precondition has been satisfied (Vietnam regulatory approval has been waived). The tender period is from 22 Aug to 4 Oct (30 business days), with payment from 11 Oct. This is a done deal, as the offer is a knockout bid. At the last close and for the 11 Oct payment, the gross/annualised spread is 0.4%/3.1%.
SUMMARY
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