"On the terms and subject to the conditions of the Offer, the Bank is offering to pay $12.50 per ADS net to the seller in cash, less any applicable withholding taxes and without interest, after deduction of any other applicable fees and taxes,"
No, the $25 is the par value, the market price was a bit less than $12.50. They offered a slight premium to "market" hoping to persuade holders to cash in. The advantage to the bank in doing this is that from an accounting standpoint for every share coming in, they get to reduce the carrying value ($25) of each share, in this case by almost half. That in turn will make thei capital ratios look better, that is if investors cooperate.
wrong shares, buddy. that offering is for the preferred stock, symbol NBG-PA. nobody in his right mind would tender for this stinker, certainly not nbg managment. btw, the tender offer for the preferreed closes tomorrow, so you cant participate in that, either unless you bot the preferred yday
Broker dealers and certain market makers can legally sell short naked (of course we can not). So no one probably really knows what the heck is short out there. So IMHO these are not long term buyers bidding up the stock now. You want THOSE types in there, not guys covering to lock in big gains or arbs playing the 2 markets.