RE:RE:RE:CIBC dumping They aren't 'burning cash', refer to their guidance on the last conference call - they expect to be modestly positive on a cash generation basis (slight loss for accounting because of depreciation). They also have this money in savings yielding 4-5%. However, your other points are correct.. Absolutely pathetic for a company to be sitting on 100% of their Market Cap in a Savings Account, return the cash to shareholders, these morons are asleep at the switch.
There doesn't need to be a 'sale' right before the boom cycle.. likely insiders take it private as management has completely embarrassed itself the last 10 years, this is their last ditch effort to at least break even on their investments.