TSX:MRT.DB.A - Post by User
Post by
flamingogoldon Mar 30, 2023 3:01pm
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Post# 35369981
MRC hoovering shares
MRC hoovering shares Almost a daily event now, MRC is buying up a wad of MRT shares. This reminds me of SRV.UN when the majority owner attempted a takeover bid in the $3 range during covid. It was challenged by an activist investor who came in with a (higher) competing bid and then started swallowing up as many shares as he could get. The shares are now in the $16-17 range.
The situation is somewhat similar here except we have no takeover offer yet nor activist. Mr. Sahi is quietly hoovering as many shares as he can in the $5 range because he knows these shares are going to be worth a lot more. He, being the majority owner, has a plan here. Once the sellers dry up, he will need to pay up for the remaining allotment.