OTCPK:TMBMF - Post by User
Comment by
belowIVon Jun 13, 2015 11:28am
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Post# 23827273
RE:VERY GOOD TEMBEC UPDATE BY TOM BRADY
RE:VERY GOOD TEMBEC UPDATE BY TOM BRADYI'm placing a bet. Resolute is about to make a bid for Tembec.
Fairfax just bought 19.99% of TMB. Restructuring Capital owns 17.95%. Steelhead Partners owns 12.5%. Cumulatively, this group of shareholders owns 50.4%.
Why is that significant? All three are significant shareholders of Resolute. RFP is in the business of closing unprofitable lines in favour of acquiring more profitable mills.
A couple of years ago, Fibrek was taken out this way by Resolute with a hard lock agreement from Fairfax and the eventual support of Steelhead.
James Bennett is guy behind RCA. I believe this is the existing CEO of Sandrige who also has significant ties with Fairfax.
If Resolute makes an offer with the support of these three, they already have control.