No biggie, but MPO isn't in the red quite that much. The sale price at the time of the deal was C$188m, being C$93m Cash, and C$98m worth of Legacy shares... which equated to 6,180,000 @ $C15.37
At the time of completion, the value of Legacy shares were C$16.62, so MPO was sitting on a C$1.25 gain at that stage.
So from the actual sale price, MPO is down C$30.8m from the transaction price.
The Aussie vs Canadian is pretty close to parity, so that equates to about 12c per share that MPO has lost in value due to Legacy's share price.
Agree with your comments about the down trend looking to be broken, and encouragingly it has been on strong volume as well. Hopefully we see something similar with MPO hey?
MPO Price at posting:
64.0¢ Sentiment: Buy Disclosure: Held
