(Bloomberg) Oasis Management Co.’s Seth Fischer says his hedge fund won’t tender its shares in Panasonic Corp.’s sweetened offer for its listed subsidiary PanaHome Corp. because the terms are still “unfair.”
Oasis plans to seek a court appraisal of a fair price for the purchase, Fischer, chief investment officer of Oasis, said in an interview in Hong Kong, where the fund is based. Fischer questioned the process for the tender offer, which runs until June 13, saying minority shareholders’ interests haven’t been properly considered. He said Oasis now owns 9.9 percent of PanaHome. Representatives for PanaHome and Panasonic said the price offered by Panasonic is fair.
