...back to rational thinkingThe possible outcomes are as follows:
1) the deal goes through as stated; this would hard luck for us, but at least the story has ended
and cash can be used elsewhere
2) there is a better offer; this is as good as the better offer exceeds the present offer
3) the deal goes through, but litigation compensates folks down the road (as happened
in the Fibrek case
===
While we are perhaps resigned to 1), we can handle it, we will have to handle it, it is more fun to entertain 2)
Why 2) might happen:
a) deal to close by end of third quarter of 2020, which gives time for a competing bid.
b) potential buyers will see that this an opportunistic "buy" by Nordstar and challenge it, if only to make Nordstar pay more
c)as stated before, this whole buyout move might be intended to raise awareness about Torstar as a privitization candidate
d) pension plan investors might be interested in a large no-debt company like Torstar (??)
e)asset-stripping aside, the company has been cleaned up and made buy-out ready (?)
f)prayer