Tintra – market unconvinced by tender offer & delisting: this whole thing stinks
By Tom Winnifrith | Monday 6 November 2023
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Tintra (TNT) announced today that the previous possible offer for 100% of the company at 150p per share in cash announced on 7 September was being replaced with a proposed tender offer for up to 29.9% of its issued share capital at 150p per share. Tintra also announced that the Board intends to delist from AIM. This all stinks.
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