Tom, what the market is saying is that the ultimate price will be the offering price and that ge will essentially get arcam or arcam will be left at its pre tender prices..
To educate you, the Elliot deal is not that important, it is a nuisance. Elliot's 10% will merely prevent GE from forcing the sale of all the stock in Arcam and let GE get 100%. Sooooooooooooo
Like with the Canon deal, if GE gets over 50%, cannon got over 80%, they will operate the company to its likely with a majority of the board and will be able to guide the company as it wishes. All Elliot will do is make noise about minority shareholder rights but so long as actions benefit the company GE will be complying with its obligations. GE is a major customer, Elliot is not.
The key is not what Eliot does with its 10%. Its whether GE gets a comfortable 50% and decides that is sufficient. Then hopefully it will extend the tender and allow remaining shareholders to tender so they will not be stuck with zombie shares, assuming GE gets a high percentage. Remember Arcam is already a low float company, especially the ADRs. With GE getting say 50% or even 30=40%, assuming it takes those shares and Elliot having 10% and some of us who don't plan on selling, the trading float will not be that large. We will see. I've gambled on retaining about 30% of my shares and may have made a mistake given the weak pps and lack of any noise whatsoever except from some posters here who shout for 600 now. LOL
Please don't overthink the Elliot nuisance, Cannon hasn't. Ge will sure be in a strong position with major laser and EBM ownership in the sector. Now at 11 am tomorrow hopefully we will get some news. The trading is already nil. And if GE does pay Elliot, it will be after 6 months and we won't get any of the sugar. LOL
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