Bullboard - Stock Discussion Forum Sir Royalty Income Fund SIRZF

Primary Symbol: T.SRV.UN

Consumer Cyclical Restaurants

SIR Royalty Income Fund (the Fund) holds investment in SIR Corp (SIR). The Funds' investment, SIR is engaged in the business of owning and operating full-service restaurants in Canada. SIR has concept restaurant brands, including Jack Astor’s Bar and Grill, Scaddabush Italian Kitchen & Bar, and Canyon Creek Chop House, signature restaurant brands, such as Reds Wine Tavern, Reds Midtown Tavern... see more

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TSX:SRV.UN - Post Discussion

Sir Royalty Income Fund > Is this a free play?

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Post by BlueJay2020 on Jan 28, 2021 3:42pm

Is this a free play?

Unless we think that Janes will pull out of their bid for any reason before the deadline - do we not have a quasi-free play situation between now and then? If a better offer comes, we take it, but if not we get a 25 cent gain on current SP? I guess there is a risk that more than 10% of the shares tender for their offer, so you only get some shares sold at that price, and then the SP falls afterwards, but I don't think that's significant.

One would think SIR will make the next move in the next week or so...

Obviously, no such thing as a free lunch, but on a risk/reward basis.....