Does anyone know what PVD dividend policy will be post acquisition by Metlife. I would like to keep my shares and collect dividends but am concerned that Metlife may suspend dividend (they will have majority control I believe ).
I think you can keep your shares.
Page 44 of the tender offer:
"No Squeeze-Out of Minority Security Holders
Chilean law only permits the squeeze-out of minority security holders of a Chilean corporation
if the subject company's bylaws expressly allow a squeeze-out, and then only with respect to
such security holders that obtained the securities in the subject company after such bylaws were adopted.
Provida's bylaws do not allow the squeeze-out of minority holders of Common Shares or ADSs.
Therefore, we do not expect to squeeze-out the remaining holders..."
Thanks for your reply. Did you get your info from Metlife or press releases? Maybe they won't get the 90% level required to force minority to tender their shares? They are only getting 64% ownership through purchase from BBVA as I have learned. I don't think the purchase price is high enough so maybe others will feel as I do? Obviously BBVA needed the money, given need to bolster capital. Spain banking market must be a mess! In such cases you have to sell good assets to raise capital. I do believe they want the whole company though. We'll see!