share-exchange ratio: The Hong Kong-based fund, Pana Home's second-largest shareholder after Panasonic, says the offer undervalues the homebuilder by more than 50 percent, according to The Japan Times. Fischer's calling for a bigger share-exchange ratio or for Pana Home to pay out its cash as a special dividend. Oasis will ask the courts to rule on whether the price is fair if shareholders approve the deal on current terms, Fischer said in an interview in Tokyo last week. They're basically taking our holdings at a cheap price, said Fischer, Oasis's chief investment officer. Oasis will petition for appraisal of whether the price is fair if Panasonic gets the two-thirds of votes it needs to make Pana Home a fully owned subsidiary, Fischer said. It's just not right.
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