Delisting and tender-offer

Hi all,

Siemens Energy put out an offer to purchase the remaining Siemens Gamesa (SGRE) shares. They already own 67 %. As far as I can understand, they can only force people to sell (squeeze-out) if they acquire 95 % of the total shares. At 75 % they intend to delist SGRE. What happens if Siemens Energy acquires only 94 % and one refuses to sell (also after the delisting is announced and a second offer is given).

Will I have a delisted stock that is very involatile and hard to sell? Will it necessarily be bad for me?

Thanks!