Z C L Composites Inc ZCLCF

RE:BRIEF-Shawcor To Acquire ZCL Composites

[challenger426]

Sold my sub $7.00 shares today.  Not a great offer, especially for the longs who paid more than $10/share but a decent one considering the sector, and this comment in the PR:

"In approving the Transaction and making its recommendation, the Board of ZCL considered, among other things, the Raymond James opinion, the previously completed review of strategic options disclosed in May of last year that did not bring forward actionable, value-maximizing alternatives, and the likelihood of another purchaser offering greater consideration to securityholders. The Board's full rationale for recommending the Transaction, along with a copy of the Raymond James opinion and other relevant background information, will be contained in the Circular."

There is always a chance that the shareholders will not accept the offer or that a better offer comes in.  However, we saw what just happened with Husky and MEG, and just don't want to risk my profit. 

Look back at my posts on ZCL and you will find that I thought ZCL was a great opportunity when it fell to around the $6 range.

Good Luck to anyone holding out for the vote and congrats to those who made money on ZCL.