Q: Any recommendations on what one should do if they are holding BLN?
Would you hang on and wait to get the CVR?
Or just sell and move on.
Any expectation of a competing bid?
Would you hang on and wait to get the CVR?
Or just sell and move on.
Any expectation of a competing bid?
5i Research Answer:
It is a decent, friendly, all-cash offer, with 34% support already. This does not preclude a third party, but we would out odds very low, perhaps 10%. The CVR may have value and can be viewed as a bonus. We would be OK holding for now, with it now essentially as a cash-proxy with a bonus. We would tender to the bid when the time comes.