Glentel Inc GLNIF

RE:RE:RE:RE:26.50 in cash per share or 0.4974

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I agree with porksniffer that "Obviously the large discount of GLN is due to percieved risk of the deal failing either through regualatory or from BCE repricing the deal because of Target.". With 127 less Target Mobile stores it looks like is 8-9% less stores if we take total around 1486 stores. But that possibility looks remote to me since Roger is sharing 50% cost in cash instead of going for the bidding war and increasing price. Also shareholders approval was granted for $26.50 only. If BCE wants to reprice the shares then GLN may declare big dividend considering 4th quarter is always the strongest quarter. Also whole process needs to be repeated which is very costly compared to 8.5% cost reduction. So I agree with porksniffer that deal may go through smoothly since cost to both careers is 50% and USA stores when sold will  fetch 24% plus more due to appreciation of US dollar and improving US economy that will easily compensate for 8.5% drop in number of stores. Also not sure if insurance clauses are applicable to this deal same as house sell when condition is removed and house burns down before handing over possession, in that case insurance pays.