If we receive an offer to purchase the item at a significant premium, we will empower shareholders with a vote on the offer.
Anyone can submit a tender offer to buy out an asset. We will review and consider if it’s at a premium above both the current market cap on Otis and recent sales of the same item in the market.
Votes will be weighted pro-rata and require a minimum participation of 50% of shares voting in order for a buyout to be approved.
During the voting, anyone can submit a counteroffer. More details on how to submit a counteroffer here.
We also post summaries about buyout offers on our blog.