RE:The insurance tells us a lotTotally agree. I have never seen such an egregious transaction. Knowing CXB will make an offer to buy the shares, MOZ sells them 66m shares as a deep discount. Not only will they walk away with a big profit if someone else comes in, it makes it more expensive for another party to buy the company as the share count has increased 15-20%, and it provides CXB a large % of MOZ, which would make it more difficult for another bidder to win 2/3 approval.
Extremely clear that mgmt and the board is primarily concerned with their personal benefits and screw their fiduciary responsibility to shareholders. They had to know that an acquisition with CXB shares would trigger a fall in the CXB share price, improving the deal for CXB shareholders and reducing the premium for MOZ shareholders, exacerbated by the fact the shares have been in (an intentional?) downturn for months. In the US the SEC would likely question the deal but not in Canada.