Liquor Stores N.A. LQSIF

RE:RE:$6.95 vs implied offer of $8.70

[nedstar71]

Pat123 wrote: You're right. 25% is a clear indication the deal is unlikely. However, I wonder why SNDL was up today with all other weed stocks down. Tomorrow's action will give us a good indication.

My guess is they will have support in the low 60s but not enough to reach the 66 2/3%. Sundial will then add a small 0.50 per share in cash to the current offer and it will go thru in a month.

The Nov 9th record date is killing the deal because millions of shares traded on the 9, 10, 11, 12 ... and the buyers were no allowed to vote and the former owners that sold didn't bother voting.

VERY good point about the record date. I sold 2/3rds of my shares myself and did vote, but only because I held on to 1/3rd so still had some interest. The huge number of people who sold everything wouldn't bother to vote. I hadn't thught of that and that is for sure the issue. If the deal fails they should just recind the offer and make a new one to current shareholders after a short time lapse if that's possible. Part of the problem is I think the deal is somewhat time sensitive given Sundial's likelyhood of having to announce a reverse split in the very near future if it doesn't hit a dollar to remain Nasdaq compliant. Sundial may have bucked the trend yesterday for the 7.3% stake they took in Village Farms, but thats just a guess.