Quebecor against TVA.Share exchangeWith Quebecor share getting once again close to an all time high, i never understand
why Quebecor does not use it's share as a currency to finally buy back the 32% of TVA they don't own.
At a ratio of 6 to 1, Qubecor would need to issue 2,277,695 shares and it would value TVA
at $5.86 at today's Quebecor share price.
At a ratio of 7 to 1 they would need to issue only 1.952,310 share and it would value TVA
at $5.03
Some have advanced that the deal could be done at a value of $4.In that case, Quebecor would
only need to issue a little bit more than 1.5 million shares.
This would not be at all dilutive to Quebecor and they would save all the admin. cost of keeping
TVA public.
+ the fact that they would be buying assets that have real market value north of $10 for $4,$5 or $6
I have been waiting for more than 2 years for this to happen.
Will it happen one day is anybody's guess.
The only thing i know, is that these assets are not properly valued because of the inaction of the board and the way Quebecor treats it's minority shareholders.