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

FTC excuse was bull...

[Kherson]

What folks should be taking away from the new developments with Chemtrade  and their proposed bid for Canexus is that the failed merger between SPB and Canexus was not due to the FTC trying to prevent it. What investors have also missed is that the actual reasons that the FTC held up the merger were never released publicly. I have stated many times that although the FTC had issues with the merger, they were not the stumbling block in preventing it from happening!
Keep in mind that any proposed merger between Chemtrade and Canexus still has to get the approval of the FTC.
As I had said many times, if SPB really wanted the merger to go through, which I believe that very early in the process they had a change of heart and decided that they didn't want to continue with the merger, they could have easily made the changes required to satisfy the FTC requests, but they didn't!
If you listen to one of the SPB quarterly C.C., the CEO is asked how busy the merger team is with completing the merger. The CEO responds very clearly that the team is not busy at all and are waiting for the FTC to contact them. It sounded to me at the time rather surprising, but now we should realize that the merger deal was already dead in the SPB camp!
Kherson