GREY:ATBPF - Post by User
Comment by
MrMugsyon Jan 09, 2023 1:59pm
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Post# 35211620
RE:RE:Canaccord Genuity managers seek to take firm private
RE:RE:Canaccord Genuity managers seek to take firm privateMrMugsy wrote: Forestview wrote: Article below. Anyone see an impact on Antibe as a result?
https://financialpost.com/fp-finance/canaccord-genuity-managers-take-firm-private-1-13-billion
Canaccord Genuity Group Inc.’s management group is seeking to take the firm private in a $1.13-billion deal, taking advantage of a plunge in the share price after last year’s turmoil in capital markets. The management group — which includes the firm’s chief executive, chair and more than a dozen other senior executives — owns a combined 21 per cent of the shares, the group said in a statement on Monday. Canaccord’s largest outside shareholder also supports the bid of $11.25 per share, according to the statement. Canaccord’s stock has fallen by 48 per cent since a pandemic-era peak in November 2021, as volatile markets and plunging global equity prices put a chill in the initial public offerings and other transactions the firm specializes in. The deal would return the company — which was founded as a regional brokerage in 1950 — to private markets after 18 years.
“The common shares, which naturally reflect the inherent volatility of the global capital markets in which the company operates, have proven to be not well-suited for trading in a public marketplace,” chief executive Dan Daviau said in the statement. “As an employee-owned business, the company will be able to focus its efforts solely on advancing its proven strategies in ways that serve the best interests of its clients.”
Not at all Forestview.
I am very glad that ATE is public and I don't think they're looking to change that.
Money-managing is also very different than what we're doing. They don't have the same luxury of huge spikes on P2 data results and then spikes on P3 partnering.
The only similarity is ... that the buyers had al vanished for a wee bit before P2. That was our buying queue !!!!
Our buying cue !
hahaha
: )