OTCPK:CUUHF - Post by User
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Capharnaumon Aug 24, 2020 4:37pm
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Post# 31447479
RE:Globe and Mail - Stuart Olson (DOG)
RE:Globe and Mail - Stuart Olson (DOG)Construction555 wrote: I wonder who provided advice to Board and Management over the various takeover offers over the years. I think a long time ago AECON was interested in buying and there were other offers. I guess they were waiting for $0.12. Not an MBA so can someone explain? Also, anyone know how much ending up in the pockets of management and the Board?
From Globe and Mail:
"Normally, when a company receives a takeover offer, its shares rise. Unfortunately for shareholders of Stuart Olson, its battered stock headed even lower. Bird Construction announced the acquisition of the Calgary-based construction services company for $96.5-million in cash and shares. But given what Stuart Olson’s CEO called the company’s “balance sheet and leverage metrics challenges,” almost all of the money will go to Stuart Olson’s lenders, with just $4-million ending up in the pockets of shareholders. So much for a takeover premium."
$4M landed in the CEO's pockets. He's taking in as much as all the shareholders collectively. Really disgusting.