Post by
MOJOJONO on Feb 03, 2016 7:02pm
Preferred Shares taken out below par... $20!!!
Interesting... I always would have thought preferred shares would be taken out at par $25.
However, the news put out says Lowe will take them for $20.
"all of the issued and outstanding preferred shares of RONA for C$20 per share in cash."
https://www.rona.ca/RonaCorporateArticleDisplayView?docName=B2CPRDSTG_043419&rtName=RT_PRESS_RELEASE&urlRequestType=Base&catalogId=10051&urlLangId=-1&langId=-1&altrtName=RT_PRESS_RELEASE&endecaId=1&storeId=10151&altdocName=B2CPRDSTG_043416
Comment by
vieuxmineur on Feb 03, 2016 7:23pm
I was wondering the same thing .I always thought in case of take over I would get 25. for my preferred shares . Can anyone clarify Please .Thanks
Comment by
easystreet10000 on Feb 04, 2016 11:09am
this is a great play for who ever got in last week
Comment by
Rouski10 on Feb 04, 2016 7:23pm
It is outrageous. If you own the preferred share, make yourself a favor and VOTE against the 20 $ offer. The nominal value of that preferred is 25 $, not 20$. It is scandalous to see that Scotia Capital inc. has the nerves to tell us that it is a FAIR offer. Strangely enough, not even 5 years ago, they were offering those pref. shares at 25 $ to their clients... Wondering what is IIROC doing?
Comment by
easystreet10000 on Feb 05, 2016 12:58am
hey thanks just checked that out!!!