RE:RE:Eastmain /fury Guys yes the deal was confusing at best .. let me take a jab at it...
Eastmain shareholders will get 0.117 shares for every share they held in eastmain. If you held 1000 shares, you will get 0.117 shares.
Eastmain was not valued at 0.42 as AUG had said and the market clearly spoke to it a long time back.. the market valued the deal around 0.27 for Eastmain valuing it at roughly 70-75 Million.
AUG made it out to be more than they could chew.. I am AUG shareholder as well so held both stocks to the merger as i see overall value going down the road. Had bought eastmain fortunately a month or two before the takeover announcement..
Fury is currently trading just north of 2 Dollars USD which values it at 2.65 CAD. As per market closing on Friday, i am happy enough that Fury is trading here. This means indeed we get around 70% of mkt cap from Fury as of Friday and 100% mkt cap of eastmain. as of Friday close based on AUG price of 3.23 and ER price of 0.275, Fury should have opened at 2.68 all things being equal and it has ... so i am surprised that mkt indeed was giving 30% value to the SPINCOs.. i had thought it would give more value to them considering how cheap ER was trading based on 0.42 takeout offer...
Anyways... it is what it is... i am sure Fury will trade north of 3.25 soon enough which will make the spincos completely free for AUG shareholder...