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.

See an example of this here and outcome here.

We also post summaries about buyout offers on our blog.

Did this answer your question?