GREY:ALXDF - Post by User
Comment by
LRGreturns4meon May 24, 2018 7:15am
107 Views
Post# 28073730
RE:Hypothetically speaking
RE:Hypothetically speakingHello cruisemissle; Take a look back at mid December when it is now assumed that a proposed Plan of Arrangement led to the announcement of a Special Committee.
On 12/14/2017 PRB closed at $1.36 and AZX closed at .06. Let us assume the offer included a 100% premium to the VWAP at the time of offer so let's (for this purpose) say the offer was .12 share with a Spinco of the non-Quebec properties valued at .01/share.
Under a Plan of Arrangement and AZX shareholder would receive 1 PRB share for each 11.33 shares of AZX plus 1 share of the Spinco for each AZX share valued at .01 or a 1 for 10 on the Spinco valued at .10 share.
I have no reason to believe this was the offer on the table, but chose a date in time (Special Committee NR) and the actual data on the SP at the time.
This is only my guess. Best of Luck.
LRG