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Bullboard - Stock Discussion Forum Coast Wholesale Appliances Inc CWSAF

GREY:CWSAF - Post Discussion

Coast Wholesale Appliances Inc > 20% jump in share price - 3 original owners to take private
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Post by esrdirect on Mar 05, 2014 9:52am

20% jump in share price - 3 original owners to take private

Woohoo great news. Negotiations starting for the 3 original owners to buy the company back and take it private again.
Comment by esrdirect on Mar 05, 2014 10:36am
Tuesday, March 4, 2014   Dear xxxxxxxxxxxx   As you may already have heard, earlier this afternoon Coast Wholesale Appliances Inc. received an unsolicited takeover bid from CWAL Investments Ltd., a private company owned by Harlow Burrows, Gordon Christoff and Randy Ryzak.  The full terms and conditions of CWAL’s offer will be outlined in a take-over bid circular, which we ...more  
Comment by Byrocat on Apr 27, 2014 8:07am
Update: the BofD rejected the original offer and started a Stockholders Rights process (read poison pill), both parties wound up in front of the BC Securities Commission (or went to them) and a second offer came from CWAL. Offer is still substantially below the bank evaluation of 5.25-5.75 and BofD still recommends rejection. I'm in for the dividends long-term so I'm taking a wait-and-see ...more  
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