Millicom's Independent Committee Issued Recommendation Under U.S. And Swedish Rules That Shareholders And SRD Holders Reject The Tender Offers Made By Atlas Luxco S.à r.l To Purchase The Shares It Does Not Own For $24/Share
Portfolio Pulse from Benzinga Newsdesk
Millicom's Independent Committee has recommended that shareholders reject the tender offers made by Atlas Luxco S.à r.l to purchase shares at $24 per share, stating that the offer significantly undervalues the company.
July 15, 2024 | 2:07 pm
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Millicom's Independent Committee has advised shareholders to reject the $24/share tender offer from Atlas Luxco, claiming it undervalues the company.
The recommendation to reject the tender offer suggests that the Independent Committee believes Millicom's intrinsic value is higher than the offer price. This could lead to a positive short-term impact on TIGO's stock price as investors may perceive the company as undervalued and expect a higher future offer or improved performance.
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