CANEXUS CORP 6.5 PCT DEBS T.CUS.DB.D

RE:RE:RE:RE:RE:Share Price

[Roxy27]

1condor,
I've been positive on the transaction from the SPB standpoint and previsously liked the upside for CUS based on the conversion discount (effectively buying SPB shares at a discount). However, I've previously sold out of CUS because of the risk associated with completing the transaction. I still hold a healthy SPB position.
I would think the risk premium for CUS should be quite high as the downside for CUS if the deal doesn't go through is considerable. 
I'm interested in your opinion on CUS share price value if the deal doesn't go through. Even if the likelihood is 5%, the downside should be considered.

I don't have a strong view on SPB share price with our without the deal. At these levels, I think either scenario work. 

Good luck