Yesterday, 23 Oct, I received a call from the company enquiring about my voting intentions. Such calls are not that unusual in takeovers.
However it is an indication that they are not certain that they have approval of the takeover in the bag. I hold less than 0.0005% of the company, so bothering to try to convince me to vote yes smacks of a degree of uncertainty or desperation.
Have others received such phone calls?
I said that I was still thinking about how I would vote, but that I am puzzled as to why the market price is holding above the value of the offer. Given the effect of arbitrage holding costs, if the takeover is a certainty, the market price should now be slightly below the value of the offer price. Evidently, Mr Market's weighted opinion is that it isn't a certainty.
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