RE:RE:.72 based on the bought deal
I'm actually not sure that is the case Curt. Since it is a shares for shares deal and TCM shareholders get 0.0988 CG shares for each TCM share, the value of the takeover per TCM will fluctuate with the price of CG shares. If CG shareholders don't like the deal or if the gold price tanks tomorrow, the CG share price will go down and TCM shares will be worth less than the 0.80 per share (not .79, as that is based on yesterday's CG close, not today's). If, however, CG shareholders like the deal or if the price of gold goes up tomorrow, then the CG share price will increase and TCM shares will be worth more than the 0.80 per share.
Even though the deal doesn't close for awhile, TCM shareholders essentially already have CG shares, as that is what will determine the value of their TCM shares. If you have 10,000 shares of TCM, you basically already have 9,880 shares of CG, for all intents and purposes.
That is my understanding, at least, as past shares for shares takeovers that I have been part of fluctuated that way...
Either way, TCM jumps at the tomorrow. If CG opens at 8.10 then TCM should open close to 0.80 (maybe a couple of cents less, to leave room for a profit). If CG drops to 7.50 at the open (which I don't see it doing), TCM should open close to 0.73. If CG opens at 8.50, then TCM should open close to .84
BB