Template:Italianwithdrawalright

Under [[Italian Law}} a shareholder on the Record Date who does not vote in favour of a proposed [[merger}} acquires a “withdrawal right” if the merger is approved. The withdrawal right allows a shareholder who abstained or voted against the merger to be cashed out of the equity at a pre-defined price equal to the average closing price published by {{tag|Borsa Italiana]] for the six months prior to the notification date for the merger. It is therefore possible that the withdrawal right as a {{tag|call option]] over the stock. It is only exercisable if the shareholder does not vote.
view template