What did SNDL see in ZENA? that it bought its senior debtFor those who think ZENA is a worthless company doomed for failue, Sundial is then just a plain stupid company with stupid management investing in a worthless company.
For the rest of us, who think ZENA is very undervalued, huge potential and just around the corner for profitablity, we feel cheated at what is happening.
HEXO made an offer that almost 4 times the senior debt OR at a 40-50% premium of market-cap that was still too undervalued.
What does these companies see in ZENA. They see stuff, they see survival of their own asses, they see growth potential, they see value.
Its just obvious and the market will speak that the Sundial approach was plain sleazebag, low-ball, selfish and a whole bunch of other negative words. For exisiting sundial investors this should be a warning sign of how they operate.
As for the HEXO offer, its very obvious the offer made factored in some negatives of ZENA, like, debt, ATM, and the float. It was obviously better than Sundial and can't be looked as a low-ball offer.
There is room for more offers, we don't know. But it should not be from Sundial. This company tried to get ZENA for cheap and if they overbid HEXO you gotta think twice why would they do that?
If you dont have a choice sell and move on. But if you can see the potential here. Wait out the merger to finish and them sell if you don't see potential after merger.
But the bottom line is ZENA is almost making profit, together with a merged company whomever it is. The value is more.
Short term we dont know if ZENA was going to goto 50 cents before the merger. Eventually it woudl have. But with HEXO your hexo stocks could double. ANd thats you 50 cents.
All these court and legal mambo jambo is just FUD, you wait it out. No gain without risk.
If you dont want to take a risk, sell and move on, others will take your shares.
DO what you have to do, Dont let Sundial play with your investment.