July 6, 2017 / 3:02 PM / 2 years ago

Brazil shareholder urges peers to set higher price for Unipar tender

SAO PAULO, July 6 (Reuters) - Brazilian investor Luiz Barsi has urged other minority shareholders in Unipar Carbocloro SA to set an asking price for their shares well above a management-led tender to take the Brazilian chemical producer private.

In a Thursday letter to some shareholders seen by Reuters, Barsi said Unipar’s plan to buy out minority shareholders for 7.50 reais a share is well below the fair price for the stock. He urged other shareholders to set their asking price for the stock at 30 reais, noting that he is considering buying more Unipar’s common shares above current market prices.

Class A preferred shares of Unipar jumped 4.1 percent after the letter was sent. The company’s common shares are trading at 9.55 reais in the São Paulo Stock Exchange. (Reporting by Guillermo Parra-Bernal; Editing by Frances Kerry)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below