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Tony you and Marty and more place very insightful and intelligent posts that for the reasons given normally would drive investment by savvy investors to the level of $0.30 plus- not only investors but those who provide money for takeovers . The fact is and you the others know it we trade at a negative premium because we don't own TSI and despite the option and the tag along and first offer 2013 contract of sale provisions and the recent "sometime between ( to quote you) now and April 2017" don't make for a slam dunk.
Investors I.e are asked to assume Tsn will be happy with their due diligence exercise ( there's little they, TSN, don't already know) and on the basis of that assumption, to buy in as its plain dumb not to.
I'm a long term holder and for me logic dictates that the deal will be done. There is little doubt your analyses is very compelling but there seems an element of naivety to just assume that the discount price at which the sale can take place via exercise of the option is a slam dunk. What concerns me me is that even with the given first offer rights plus the option plus the great numbers across lines of business etc etc the money to buy never info equity is not in the table from institutions falling over to be involved.
What am I missing here. Are you suggesting we have to assume the deal will be done by the "extended" April date, I,e that is is guaranteed. If you can't then surely this great minnow has to have its present share price and progress on its rights of participation via its minority stake. Love to have a substantive answer. Regards Karrotz
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