Cohen & Steers Tax-Adv Pref Secs and Inc Fund V.PTA

Primary Symbol: PTA

The Funds primary investment objective is high current income. The Funds secondary investment objective is capital appreciation The Fund seeks to achieve its investment objectives by investing at least 80% of its managed assets (i.e., net assets plus assets obtained through leverage) in a portfolio of preferred and other income securities issued by U.S. and non-U.S. companies, which may be either exchange-traded or available over-the-counter. In pursuing its investment objectives, the Fund seeks to achieve favorable after-tax returns for its shareholders by seeking to minimize the U.S. federal income tax consequences on income generated by the Fund. There can be no assurance that the Fund will achieve its investment objectives.

NYSE:PTA - Post by User

Cohen & Steers Tax-Adv Pref Secs and Inc Fund > Suroco for free !

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Comment by perdikaoilgason Oct 05, 2014 3:24pm

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Post# 23000217

RE:Suroco for free !

This is not simplistic at all. This is the real thing. The difference is just $20 million:

Before acquiring SRN: C$0.35 x 600 million shares = C$210 million = $190 million

190 - $60 million Net Debt (see Q2 2014 report) = $130 million (Enterprise Value)

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Pro forma SRN: C$0.28 x 870 million shares = ~C$240 million = ~$220 million

220 - $70 million Net Debt (see Q3 2014 report) = $150 million (Enterprise Value)

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