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Bullboard - Stock Discussion Forum Indigo Books & Music Inc T.IDG

Indigo Books & Music Inc. is a Canada-based book and lifestyle retailer. The Company is engaged in offering an assortment of books, gifts, home, wellness, fashion, paper, baby, and kid’s products. The Company operates retail stores in all ten provinces and one territory in Canada, and also has retail operations in the United States through a wholly owned subsidiary, operating one retail store... see more

TSX:IDG - Post Discussion

Indigo Books & Music Inc > Cormark summary
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Post by Possibleidiot01 on Feb 02, 2024 12:00pm

Cormark summary


 
 
Indigo Books & Music Inc. (IDG - TSX)
IDG issued a press release last night stating that it has received a non-binding proposal from Trilogy Retail Holdings Inc. (TRHI) and Trilogy Investments L.P. (TLIP) to acquire all of the common shares that TRHI and TLIP do not currently own for $2.25/sh in cash. Together, TRHI and TLIP own approximately 16.8 MM shares, representing 60.6% of the shares outstanding. TRHI and TLIP are controlled by Mr. Gerald W. Schwartz, a member of IDG’s board of directors. In our opinion, this offer is wholly inadequate, and it should be rejected. We rate IDG a Buy (S) with a target of $3.40.
 


Comment by 2young2invest on Feb 08, 2024 7:11pm
Looks like Cormark or their clients are underwater. $2.25 is a very good offer, company worth zero: negative equity, no real assets and it barely made any money during Christmas season, the rest of the year will see huge loses.
Comment by Possibleidiot01 on Feb 24, 2024 5:08pm
I've very seldom seen analysts come out this strongly against buyout offers. People seldom make offers unless it benefits them. Since then Cormark has walked the price back to $3.20 but, they have given a few reasons why the offer is inadequate ; in the last report they said with cash on the books and the proceeds of the cyber attack insurance ( $1.3 million so far,  estimate of $10 ...more  
Comment by 2young2invest on Mar 14, 2024 3:37pm
They could pay more than $25m? Yes, but why? Company's liabilities are higher than their assets. The big discounts were because no one had enough disposable income to spend. IDG is not an IT company and someone hacked their website. Taking a proven and secure solution like Shopify is easier and faster for them than trying to find the problem. Cormark is udnerwater, that is their only reason ...more  
Comment by Possibleidiot01 on Apr 03, 2024 4:40pm
In the end , shareholders get 25 cents more or about $3-4 million more than the original offer.
Comment by 2young2invest on Apr 04, 2024 10:06am
Yep, a nice suprise! Too bad I couldn't accumulate more shares.
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