Aeromexico buyout?
Mittleman thinks Aimia's PLM stake is conservatively worth US$ 480MM, or C$643 MM. That now works to about C$ 5.5/shr after this share buyback. We already know they want the rest of PLM.
Aeromexico might have cause to be concerned someone else might want to buy the PLM stake (or all of Aimia at this point) with the idea of holding on to the PLM stake.
Emerging markets are sometimes hot and at this point Aimia is pretty much a play on growth in emerging markets. Lets not forget BIG Loyalty in Asia into which Aimia invested C$ 24.3 MM thru Dec 2015 for its 20% stake. Since then, Air Asia rev is up 68% in F18 vs F15.
Aimia should announce an open market buyback now that shares are down as it would be even more accretive.