ASML warns investors against ‘mini-tender’ Tutanota

(ABM FN-Dow Jones) ASML warns investors about an unsolicited “mini-tender” offer by Tutanota for up to 250,000 ordinary shares of ASML. This was evident from a press release from the Veldhoven company on Thursday evening.

“ASML is in no way associated with Tutanota or its mini-offer and advises shareholders to reject this unsolicited mini-offer,” the company said.

According to ASML, the mini offer has a nominal value of 0.09 euros per share, which is significantly less than 0.1 percent of ASML’s ordinary shares, at an offer price of 1,075 dollars net per share.

ASML recommends that shareholders “not accept Tutanota’s offer because Tutanota’s offer is conditional, among other things, on the closing price per share of ASML’s ordinary shares being higher than the offer price on the last trading day before the offer expires and is subject to numerous additional conditions, including Tutanota obtaining financing for the offer.”

Shareholders considering accepting Tutanota’s offer should exercise caution, review the offer documents carefully, obtain current market quotations for their shares and consult their stockbroker or financial advisor, ASML advises.

Tutanota also says in its offer documents that it expects to extend the offer for successive periods of up to 180 days until the market price of ASML’s common shares exceeds the offer price.

“This means that ASML shareholders who tender their shares in the offer would receive a price for their shares that is below the market price if the conditions of the offer are met and the shares in the offer are purchased,” ASML said.

According to Tutanota’s offering documents, shareholders who have already tendered their shares can withdraw them by following the procedures described in the offering documents. ASML advises shareholders to do this.

According to the Veldhoven company, Tutanota has made similar unsolicited mini offers on shares of other public companies.

Source: ABM Financial News