Hold the shares and accept the offer
– Inderes
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Chinese National Silicon Industry Group (NSIG) announced a public tender offer for all shares of Okmetic on Friday. The offer did not come as a surprise for us since we have been saying for four years that the company is a likely takeover target. Before the announcement our target price was 8.00 EUR and our recommendation was Buy. The offer value is 9.85 EUR, which we consider as a good price and we believe that competing offers are highly unlikely. Since Okmetic’s share price is clearly below the offer value of 9.85 EUR, we recommend investors still to hold the shares. Inderes will discontinue giving recommendation for the share but we will follow the tender process.