Title is definitely above the price offered (Il Sole 24 Ore Thomson Financial) – Milan, March 23 – The market – hot – do not want the delisting of Pirelli. Even today, the day of the takeover bid, investors have pushed the title even more ‘at the top compared to 15 euro per share that will be offered by the consortium Italian-Russian-Chinese: a clear signal, supported by the judgments of the analysts, that the potential ‘arising from the spin-off of the tires “industrial” and speculation about a counter-offer advise, at least for the moment, to bet on the stock. The ordinary shares have closed the trading at 15.5 euro with a 1.77% rise in volumes and 4.5% of the capital, while the savings (which will be ‘launched a bid equal to 15 euro) are rose by 3.3% to 15.7 euro with trade representing about 11% of the share savings. The offer real scatters ‘after the summer and especially after the dividend in 2014 (which will be’ proposed by the board of Pirelli’s March 31). Therefore, market orientation can ‘change compared accession tender offer, but for now, brokers have taken steps to raise the price target on shares reflecting the will’ to explore the various options well before delivering securities 15 euro: among them Credit Suisse that values 20 euro per share a Pirelli focused on premium tires and assigns a further upside of 2.1 euro per share alliance in trucks
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— Equity Indices Italy provided by www.borsaitaliana.it
(RADIOCOR) 23-03-15 18:44:42 (0506) 3 NNNN
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