RE:RE:Institutional investor sellingIndeed, it doesn't make any sense.
Got in touch with IR and they told me that there is a high probability that the deal closes
before the end of January.
At that time, we will find out how they deploy the 942 million(735US x 1.2825CDN)
At this morning CAD/US$, they are getting 26.5 million $ more then when the deal was announced.
That 942 million equats to $29 / share + we have the 2 other division
If you were to substract all the LTdebt, there would still be $11.50 / share of cash.
So imagine a debt free company with 2 profitable division and $11.50/ share of cash from
the sales of the bike division and the stock trades at less than $20
At $25 / share, they could buy about 15 million shares,that's almost half of all the outstanding shares.
My guess, is that they will do a combination of a big dividend, a major SIB and debt reduction.
Only 3 to 4 weeks to go.
When announced, this stock will move more than $5
Happy holiday to all