ASML cautions investors regarding Tutanota “mini-tender”
ASML says that it recently became aware of an unsolicited “mini-tender” offer by Tutanota LLC to purchase up to 250,000 of ASML’s ordinary shares, less than 0.1% of its ordinary stock, at an offer price of USD 1,075 net per share.
The Dutch company is now warning shareholders, saying that it is not associated with Tutanota in any way or its mini-tender offer and recommends that shareholders reject the unsolicited offer.
"Any shareholder considering tendering to the offer should exercise caution, carefully review the Tutanota offer documents, obtain current market quotations for their shares and consult with their broker or financial adviser," the company writes in a press release.
ASML advises its shareholders not to participate, as they would likely get a lower-than-market price for their tendered shares since Tutanota's offer is conditioned on the closing price per share of its stock exceeding the offer price on the last trading day before the offer expires. And besides that, the offer is also subject to numerous additional conditions, including Tutanota obtaining financing for the offer.
Tutanota also states 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 ordinary shares exceeds the offer price.
