Silvinit’s share price is at least 25 percent undervalued in a proposed takeover by Uralkali, the country’s biggest potash producer by market value, the Moscow-based Investor Protection Association said Wednesday.
Silvinit’s minority shareholders should vote to block the merger at a Feb. 4 meeting, the association, which includes funds that invest in the company, said in a statement.
Preferred shares were valued at a 61 percent discount to the common shares, the association said.
(Bloomberg)
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