RE:RE:RE:buyout offerI hate to say it, but this offer doesn't pass the smell test very well. It is all too convenient and at such an opportunistically low price. It just strikes me that if the company went into bankruptcy proceedings, debenture holders would get more than what is being offered.
I don't own any shares or debentures, but I have sure looked at this company often enough over the past couple years.
Management has owned a lot of debentures in this company and keeps buying at low prices. It really makes me wonder if the management group is the same people behind the numbered company offering such a low price for everything.
They have access to the boos, they know what the company is worth, they are not selling they are buying, the real estate market in Alberta is firm, and price of oil has been strong. I just have a very strong feeling the numbered company must be close to management and think everyone else is a bunch of idiots and they can screw everyone else with a very low-key offer and a tight deadline for acceptance. I just have a bad feeling about this, and I suspect it will probably get accepted because of how much management owns. The offer feels slimy.