History repeating???Hello Folks,
Am I the only one struck by the similarities with this Fibrek Decision ??
https://www.canlii.org/en/qc/qccs/doc/2019/2019qccs4003/2019qccs4003.html?searchUrlHash=AAAAAQALZmlicmVrIDIwMTkAAAAAAQ&resultIndex=2
Mr. Watsa and Mr. Rivett seem to be using a similar playbook ( imo )
The Court did not appear to be very sympathetic:
[368] Albeit legal, according to the BDR who did not consider, inter alia, Fairfax’s blatant conflict of interest situation as the most important shareholder and insider of both Fibrek and Resolute, the entire scheme devised by Resolute to take-over Fibrek at the lowest cost possible with the complicit assistance of its insider Fairfax was specifically designed to discourage any attempt to submit a higher offer or to dissuade any other potential investor to enter into a “pointless race”.
Please do your Due Diligence when contemplating this situation. GLTA