Nov. 4 at 6:14 PM
$KNOP Based on last form 6-K, total partners’ capital (that is excluding preferred units) is 536,015,000$ and there're 34,296,771 common units outstanding as of June 30, 2025: that means a book value of 15.63$ per common unit, excluding 1.6 billion backlog + 285 millions of options, likely to be excercised, at an almost 8% net margin; fair value is therefore north of 20$ per unit, even excluding all future dividends.
As already pointed out by others, an offer of 10$ cash is ludicrous: anything below 15$ should be unacceptible, and 20$ shall be the bare minimum: a premium would be fair, IMHO.
Trygve Seglem used our money to derisk his family holding and now that the business is finally going in the right direction, he wants to take it private again: that's not very shareholders friendly...
I will vote against the proposal and I really hope that all other investors rappresenting the remaing 24,293,458 common units or 70.8% of the partners' voting rights will act to stop this unfair buyout.
