igstar wrote: It is clear in the press release, that this is the last piece in the puzzle, the last step, because with it completed, the debt financing in Q4 for the remainder of the Bridge Loan is a non issue. Logically, its also the last Gasp for the short and distort gang, led by Raymond James.
It should be noted, that it took only minutes after the announcement of Altagas Canada - for Chris Cox of Raymond James to be phoning every media outlet that he knows. There was no analysis done - it was screaming into the window of percieved doubt and uncertainty that he is playing too.
Don't get me wrong - he could win this game, IF the company mucks about with getting this deal announced. The entire game, is to create an aura of doubt in investors minds, with the share price of ALA. If they come out Monday and announce a bought deal - for 1B - Chris Cox and the tweebs posting here crawl back under their rock, cover their short, and wait for the next opportunity where this company, or any other, exposes their belly to the pen of plausible issues of doubt and short and distort. That is the one reason I support selling the California power plants - it eliminated one those crooked angles of distortion for his likes.
If they muck about, and the misinformation gang can move this stock to a 10% yield, it is possible that interest in the deal could wither and create a chain of events not favourable to the company. Not fatal, but not what anyone wants to see.
The unknown issue is why have they filed a preliminary prospectus, and also noted in the press release that the deal would not close until late oct, early nov. I get the part of regulator approval, in these provinces ... nothing has changed on ownership so its minor, but its not normal to have a preliminary prospectus and not announce the deal.
I had opportunity with a senior corporate finance professional last night to discuss this over a beer, and we talked exactly about this. At that point in time, we had not seen the early warning report press release, which is a legal formality only.
In disucssion this morning, we believe that the deal did not come out Friday, possibly because of this requirement.
We do believe it will come out Monday, and if it does and a bought deal - Cox crawls back into his hole. It really is the last piece of a 20 month saga that will finally end, which is why clearing the decks and covering your exposed belly is so important. Doubtful they would ever do a market deal, and the cash flows from this new entity are solid, so dividend and return will be solid, and thats what people want - thus bought deal.
We can only wait and watch, and sit on Tom Brady's bench and use our heads on the next play, rather than jumping up and down on the sidelines, like losers do.