Bmo capital market the discussion with primero has begun one year ago .
This type of deal involves many financial companies from day one as
Fm knew it should need a lot of money . We learnt yesterday
( sedar ) BMO was compensated 2 millions cad ( on the 5.5 m paid by Fm ) to find underwriters for the convertibles notes . So how this firm deeply involved in a buyout can send sell recos ( arguing low reserves while an significant update is due 3 months later ) just 3 weeks before the deal annoucement ?
At the end of the day , once their target exceded , fm has begun the buyback .
Strange at least .