Report
Exor - Tender offer completed
Tender offer completed at strike price of EUR 84.55.6% of share capital to be cancelled post settlement on October 17An estimated EUR 50m remaining portion will be executed in the marketWe prefer if investment companies focus on investing in the portfolio rather than buying back shares to get the discount down. The discount is determined by the market and trades much more on sentiment than on fundamentals. SBBs mainly hurt the liquidity over the long term. Something to keep an eye out for.BUY reiterated. TP of EUR 99.
Underlying
EXOR N.V.
Provider
Degroof Petercam
We are an investment house with Belgian roots founded on more than 150 years of trust.
As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.
Joren Van Aken
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