Looks like Market wanted CUS deal to go through
I feel a lot of investors saw this deal as accretive, and with doubt of it going through we are seeing a correction. I would be surprised to see this stock drop below $10.35 which is the price that the share issue to purchase cus was done at. ($138 million.) If it drops below this level it would be in Superiors benefit to buy back shares for less than the issue which would only make the stock be more valuable as they will save on dividend payments. (if canexus deal doesn't go through) Its better to pay interest on revolving credit facility because that becomes a right off. I do feel that Luc will not stop until all options are exhausted. The tax savings from all the massive losses Canexus has had that would come with the company (as well as getting the company) is better than active bidding with many other companies in the hopes of getting its assets.