Yes Steve you are correct. The deal was structured some time ago...

Yes Steve you are correct. The deal was structured some time ago that if CX were to exit TSI they would have to allow TSN first Dibbs on the buy back.

Subsequently they have entered into a contract to purchase the remaining 75% for 47.7 million. The only thing that remains is the DD and the method of payment to acquire the remaining shares.

The reason I believe this hasn't continued north is people are waiting to see if there is a CR and maybe they can get in at a reduced price through the CR. Once the details of the purchase are released there shouldnt be anything holding TSN back as we will have all the details of the on-goings of the company and full control of TSI.