Tidewater Midstream and Infrastructure Ltd T.TWM.DB.A

Altagas at $28.2

[NewOpportunist]

... yet TWM is trading 10% below when deal was announced. This is crazy, they will get 12.5 million shares at $26.07, this alone at current prices would be another $26 million to TWM or 6% of market cap!

[TVR]

There has been a nice move up in the ALA share price since the deal was announced.  TWM have not said whether they plan to sell the shares immediately or hold and dispose over time.  My guess is a quick sale via a negotiated deal with an institution for the whole block in one sale.  While ALA pays a nice dividend if TWM hold the shares I suspect the interest savings on reducing debt