RE:RE:Quantum of Solace
November 16 , 2015 the SP ended at $2.23. Here's a quote from Information Circular :"The Bankers Board met on November 13, 2015 to discuss and consider the Initial Proposal. At the November 13, 2015 meeting, the Bankers Board decided to perform a review of the market to identify, examine and consider potential additional or alternative parties that may be interested in pursuing an acquisition, financing or other transaction with a view to enhancing shareholder value." November 15, 2015 end of the day SP $2 CAD. It's interesting what Chinese offered then, $2.20? Like 10% ? Seriously? Something had to be done to make 10% mark up appealing. Or no , how about November 16 and $2.23 . No premium at all. And here comes Nov. 19 claim from Albans . From a lame offer the offer becomes a very appealing one when the target went down 3 times. Did Albans know about the Chinese intentions? It was clear their move would tank the SP. If I didn't buy 80% of my holding in BNK after the drop there wouldn't be no way I'd vote FOR this transaction. Just imagine, if we had a vote again tomorrow for the same subject to approve the transaction would it go through? Not likely. Anyway, we are now placed in a position to wait for the Arrangement to finalize , with no clear dates. It was extended before and it looks like getting extended again. For how long. Pissed off, that's the least I can say. Do not extend it again. If they can't do it on schedule , drop it. We most likely will be better off.