Bullboard - Stock Discussion Forum Purpose Canadian Financial Income Series A T.BNC

The fund seeks to provide shareholders with (i) long-term capital appreciation through investment in a portfolio of Canadian Banks (defined below) (up to 70% on an equal weighted basis) and Canadian Insurance Companies (defined below) (up to 30% on an equal weighted basis) and (ii) monthly distributions.To achieve its investment objectives, the fund will invest primarily in equity securities of... see more

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TSX:BNC - Post Discussion

Purpose Canadian Financial Income Series A > The Real Question Now is........do we think a Competing

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Post by Mikepal on Aug 24, 2016 10:52am

The Real Question Now is........do we think a Competing

Offer will come in that is better than .14/share?

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Comment by Mikepal on Aug 24, 2016 11:07am

Does anyone want to chime in if this has ever happened before to another company in the same boat as TST? Meaning a competing offer came in?

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Comment by vega509 on Aug 24, 2016 12:01pm

not sure, but IMO a binding purcahse agreement means no other offers can be accepted, unless specified in the agreement. that said, TST has been sold for little more than cash value ($42.4M). the plants, tax assets, patent(s), and other assets have literally been given away. a sweet deal for PLI, not so for shareholders no matter what their cost is.

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Comment by Mikepal on Aug 24, 2016 12:07pm

Vega509 thanks for the feedback.....I haven't had a chance to read the details or the PR - but, did it spell out the binding purchase agreement as it relates to accepting other offers? Thanks

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Purpose Canadian Financial Income Series A