The fees are a killer. Look at the GSA merger to CER. After the merger was approved, the shares dropped so Centro "found" 5c a share to sweeten the deal up a bit. This was funded from merger fees of Centro. ie a lot of pork for the fund managers.
I suspect when it comes to the Rubicon stocks, shareholders will be watching closely as the unit prices have fallen. There won't be the same climate for Rubicon to syphon off fat management fees with a stressed unit price.
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