Acquisition is good but .....I agree with PAT and what Can Siam referred to. DIV negotiation with Cormark seemed pretty soft. Cormark came back asking for an extra 10M $ of shares saying that they had more demand…lol. Kind of weird DIV didn't understand they made the offering too cheap.
DIV are already providing Cormark and other underwriters a bonus Dividend increase promise on their share purchase. They did this right after releasing Q3 very good results and while the shares were going up.
We certainly understand the need for this acquisition. It will help versus the upcoming Air Miles loss of major sponsors. It is ok for new retail investors to jump in.......but $2.80 or less was available 4 weeks ago.
What was the need to drop current price that low and dilute while providing extra divvy???
The price will move back up but I certainly hope next time they do a deal, they will feel stronger in front of those agents /brokers. I didn’t check this but normally lead agent also get a commission to sell to other brokers.