RE:Useful article..basicially, hang on to them shares.Great article! I'll have to copy and paste that for future reference. ;0)
The Covid shutdown has turned the economy upside down. The government closed down non-essential businesses three months ago and the ripple effect could last years. Newspapers are dependent on advertising revenue. Yes, Torstar has no debt and they do have millions in cash as per the last quarterly report, but how long will that cash last? Bills have to be paid. The financials in the second quarter will look bad. How bad? Could be jaw dropping bad. The fact that the Voting Trust voted overwhelmingly in favour of this deal, speaks volumes. It's hard to believe that they would accept such an insulting offer but the alternative could be far worse..... Reitmans, no debt and $80 million ( ???!) in the bank filed for CCAA protection. We're all hoping for a white knight takevoer, but don't be blindsided by your rage.