Good or Bad move from Canon to remove Axis from the stock market?
what do you think?
No big deal, or is this a major news that has gone under the radar?7
//Snowman
Good or Bad move from Canon to remove Axis from the stock market?
what do you think?
No big deal, or is this a major news that has gone under the radar?7
//Snowman
Thanks for sharing. I had not seen that.
It's not major news, in the sense that this was more formality than any strategic change.
It is a modest negative for insights into the market since this means Axis will stop publicly reporting financial details.
The backstory to this, as the Swedish publication notes, is that a hedge fund held up Canon delisting Axis back in 2015 because the hedge fund owned ~10% of Axis shares. Canon refused to pay a big premium to the hedge fund. Now, Canon is just paying a premium of ~7% of what they acquired Axis for in 2015 (363.75 vs 340), which is not a great return for a hedge fund over 3 years.
To be clear, Canon has 'owned' and controlled Axis since 2015 and this move does not change that whatsoever.
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