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Tenaris ADR Rep 2 Ord Shs T.TS.B


Primary Symbol: TS

Tenaris S.A. is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products. It operates in geographical areas, such as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Its products and services include OCTG, Premium Connections, Rig Direct, Offshore Line Pipe, Onshore Line Pipe, Hydrocarbon Processing, Power Generation, Sucker Rods, Coiled Tubing, Industrial and Mechanical, and Automotive.


NYSE:TS - Post by User

Post by teddybear1111on Jun 22, 2020 1:29pm
205 Views
Post# 31177253

History repeating???

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
















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