OTCPK:VREYD - Post by User
Comment by
TrumpThison Dec 09, 2020 12:52pm
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Post# 32068368
RE:CIBC
RE:CIBCHi RetiredC. How can CIBC expect the SP to lift to $3.42, when the approx. $900M deal - $335M debt =$565M as G&M published (FP stated $552M). If the SO are 222.61M then the $565M/222.61M = $2.54/SH. Right now is fluctuating @ $2.69. How can TORC be expected to climb as of last nights deal, and will close before Feb 25/21? I’m confused, so can someone explain the logic? I sold some @ $2.78 but hold more and have enjoyed the ride.
https://www.wcap.ca/application/themes/whitecap/files/2020-12-08-WCP-and-TORC-Announce-Strategic-Combination.pdf
Whitecap and TORC have entered into a business combination agreement (the “Agreement”) under which the companies have agreed to combine their businesses in an at market, all-stock transaction valued at approximately $900 million, including TORC’s net debt, estimated at $335 million as of December 31, 2020. Under the terms of the Agreement, shareholders of TORC (“TORC Shareholders”) will receive 0.57 Whitecap common shares (the “Whitecap Shares”) in exchange for each TORC common share held (the “TORC Shares”).