OTCQX:BALMF - Post by User
Comment by
Boomer61on Mar 12, 2020 9:46am
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Post# 30798283
RE:RE:Buyout is for 0.62 and this is trading at 0.32 ????
RE:RE:Buyout is for 0.62 and this is trading at 0.32 ????Fly is correct.......... Per JF at BAR The 0.71:1 ratio is the number of shares you will receive in WM if the merger vote is successful on May 7th so between now and then we will trade at around that ratio, slightly discounted is normal. The 62 cents number used in the press release was the implied price of Balmoral shares using this ratio and the 20 day VWAP of Wallbridges share price. Put another way, Wallbridge traded at an average price of 87 cents (on the TSX, CA$) in the 20 days prior to the merger announcement, which implied a 62 cent offer for Balmoral. Of course those prices are a distant memory right now, but it was a solid benchmark at the time.