RE:RE:RE:RE:RE:RE:RE:Q3 2021 ResultsWhenever there are buy backs for any company, it is "our money" used to increase "our %".
The distinction with SXP is that there is an existing 20% + holder. But there are many situations having buy backs and a large holder.
1. You can consider if the Trust will go for 100%. They are not a strategic buyer, so could not pay top $, but they would pay more than 2.60 presumably. And as someone else said, they would need majority of minority vote to get it done.
I think the Trust would only go for 100% if reasonably sure they could flip it for much more to a stratigic buyer. Lots of ifs.
You would not want the Trust to increase its % if you fear they will underpay for 100% and still get majority of minority vote.
2. Look at the float being reduced and consider possiblity they are preparing for a sale to a strategic buyer. In this case, value is being created every time a share is bought, with the prospect of a top dollar take out in the end - which will be higher $ per share because of the fewer shares outstanding.