RE:RE:If Brookfield is offering 40 million shares at $2.50 ea
Whognu,I appreciate the explanation,thankyou.The press release does say that the 113 million shares have been aquired for resale,hence my ? of why pay $2.64 if you can buy them at $2.50.
My guess is these shares have already been spoken for,perhaps informally and the market got wind of this and bought the stock up into todays close.However we look at this,I do believe it is good news for the stock. Cheers.
"CIBC World Markets Inc. and Scotiabank, on behalf of a syndicate of underwriters, acquired Brookfield's remaining interest in Western for immediate resale through the facilities of a Canadian exchange"
Closing of the Offering is expected to occur on or before September 10, 2014
Read more at https://www.stockhouse.com/news/press-releases/2014/08/21/western-forest-products-announces-upsize-to-bought-secondary-offering-by#WP7iFFgdj5BXARfo.99