76 million share buy back? Where those all brookfield shares? In the news release it siad
......
Western Forest Products Inc. (TSX: WEF) ("Western" or the "Company") announces today that 36,800,000 non-voting shares of the Company owned by Brookfield Special Situations Management Limited ("Brookfield") have been converted (the "Conversion"), on a one-for-one basis, into common shares of the Company.
...........................................................................................
To me, and I'm no expert, this indicates that Brookfield must have sold about the same number of voting shares to keep their company control less then 50%. So even though only 23% of the shares tendered were bought back, Brookfield may have tender all their shares to the offer to and reduced their number by 73.6 million shares and the other shareholders only tendered 2.4 million shares? Does this makes sense? The point I'm trying to make is the number of shares tendered by non Brookfield owners was very, very, very small at only 2.4 million shares. This make the 23% take up number rather meaningless and non relevent. All imho of course.