MICHAEL AVERY: PKI offers sweetened poison pill to MAS shareholders
Prime Kapital Investments’ strategy to take control of MAS is almost poetic, if it weren’t so cynical
It has been a few weeks since Prime Kapital Investments (PKI) last upped the ante in its siege of MAS Real Estate. Since then the air has grown thicker with shareholder disquiet. A fresh volley arrived last week in the form of another Sens announcement, another sugar-coating of what remains at its core a bid for control without accountability.
This time, PKI has raised the cash component of its voluntary offer to €1.20 per share. The total cash pot now stands at €100m, a 175% increase from where it began just a month ago. A few more nibbles at the offer and we will be talking about real money. But even with that the market yawned. ..
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