GREY:STRDF - Post by User
Comment by
LuckyLuchon Feb 08, 2019 2:06pm
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Post# 29339148
RE:TOT coming back??
RE:TOT coming back??Again, large blocks have been going up since sept(1M print today). The company is limited to around 7k a day to buyback and 1 BLOCK TRADE per week. I know they had been using rayja as their buyback dealer. The recent crosses have been put up by RBC, TD and anom. I'm pretty sure that TOT.TO still holds 5% of the outstanding and wouldnt surprise me if they take another shot at the company by way of a hostile bid.
This company has zero biz existing as an independent co. Makes more sense to sell out for a fair premium to say Mullen or private equity. This co, along with ESN once the apellate court sqashes the patent appeal in late March both have bullseeys on their backs because of their near pristine balance sheet sitch.
WRG, PD, ESI, STEP are all debt boated pigs which will twist in the wind unless someone wants to get creative in a restructing.
LuckyLuch wrote:
There have been some large cross trades since Sept that have not been the company buying back stock. I wonder if TOT may be the buyer out there? Co's with superior balance sheets must be emboldened by the rash of successful hostile bids the WCSB has seen over the past 2 years in the space.
Get bigger or die, more 2 come.