Atlas Luxco Increases Public Cash Offer For Millicom Shares And SDRs To $25.75 Per Share; Millicom's Independent Committee Reiterates That The Revised Offers Significantly Undervalue The Company And Advises Shareholders Not To Tender
Portfolio Pulse from Benzinga Newsdesk
Atlas Luxco has increased its public cash offer for Millicom shares and SDRs to $25.75 per share. However, Millicom's independent committee believes the revised offer significantly undervalues the company and advises shareholders not to tender their shares.
August 09, 2024 | 12:14 pm
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Atlas Luxco has increased its offer for Millicom shares to $25.75 per share, but Millicom's independent committee advises shareholders not to tender, stating the offer undervalues the company.
The increased offer from Atlas Luxco may create short-term volatility in TIGO's stock price. However, the independent committee's stance that the offer undervalues the company could lead to shareholder resistance, maintaining the current stock price levels.
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