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INST - Instructure Is Undervalued: Don't Tender Your Shares
Instructure Inc.
Instructure (INST) is growing and may report positive FCF from 2020. I don’t understand why shareholders should accept the proposal of $49 per share. I would not tender my shares. Also, in my opinion, Instructure will most likely remain publicly listed. I do believe that the proposal of $49 per share is a bit undervalued. In my view, given the number of bidders, the demand for the company does not appear that significant. As a result, sellers cannot expect a large acquisition contribution. With that, shareholders don’t have to accept a low offer