RE:US$1.25 Billion issuer bid for West FraserThere should be cash on hand now (reported Q1) to buy back 30-50% of shares. Will they? Depends on hot the BC water is. They have a seemingly existenital need to diversify and you will likely see a forray to the US before a SIB rightly or wrongly. They have a more ad hoc NCIB in place.; It appears it's been exhusted. They can re-up that now or go SIB. Another issue, at large, is barring WFG, mgmt teams are trepidacious on this move. CFF too little too late; everyone else wants to bogart cash for M&A "heroics".
Normal Course Issuer Bid On August 5, 2021, the Company renewed its NCIB permitting the purchase and cancellation of up to 29,726,940 common shares beginning August 11, 2021, representing 10% of the public float outstanding as of August 5, 2021. The Company also entered into an automatic share purchase plan with its designated broker to facilitate purchases of its common shares under the NCIB at times when the Company would ordinarily not be permitted to purchase its common shares due to regulatory restrictions or self-imposed blackout periods. In 2021, we repurchased and cancelled 47,702,569 common shares for $96.9 million at an average price of $2.03 per common share. No common shares were repurchased in 2020. As at January 24, 2022, the Company had repurchased and cancelled the maximum 29,726,940 Common Shares permitted for purchase and cancellation under the current NCIB for $60.7 million at an average price of $2.04 per common share.