RE:RE:RE:RE:RE:RE:RE:RE:RE:I think its probably all hypepuma1 wrote:
Cinven's trigger point is their purchase price of $US65 less the market P/E decline of at least 15% plus so they would sell en-bloc for $US 50 to $US 55 easy and consider a home run.
Puma1; you're facts are not quite correct. Cinven's shares were not issued at US $65.00....( that was Goldman share financing).
Cinven were given 8.4M CXR shares representing US $.7B (or 700,000,000M) as payment. When you divide that out Cinven cost representing the .7B payment was US $82.45 or CAD $110.00 using the exchange rate at the time of purchase. Below is the excerpt from the acquisition press release.
"The total purchase price will consist of cash consideration of approximately £800 million (approximately US$1.2 billion), 8.49 million common shares of Concordia (approximately US$0.7 billion), and the assumption of approximately US$1.4 billion AMCo net debt upon closing, as well as a maximum performance-based earn-out of £144 million payable in cash in the fourth quarter of 2016 (approximately US$220 million). Following the closing of the transaction, Concordia will own a 100% stake in AMCo, and Cinven will hold an expected 19.9% ownership in Concordia on a non-diluted basis and before giving effect to the anticipated equity offering (referenced below)."