RE:RE:RE:Comments from DreamThe public float will be shrinking by at most 5.5 million units (e.g. 12.5 million unit SIB minus the Dream 7 million successfully tendered units which are not part of public float). And we still don't know what Artis did. And then we will have market cap weighted ETFs have to sell a portion of the Dream Office units they held since Dream Office has a lower market cap after cancelling 12.5 million units. We'll be lucky to see the public float shrink 5 million.
It is all very strange. And this happens right as Frankie shared the good news with us earlier today about the Eglinton development. Our Bay Street Alleyway and restaurants are just coming into being.
BlueJay2020 wrote: We may not see further selling but the bigger problem for the SP is that it doesn't seem that there will be further buying. They could have increased their ownershop percentage without spending a cent. Reducing their holding seems a strange step on the way to what we hoped would be a take-private transaction - unless they believe that their actions will sink the SP and they can reclaim their percentage for less than they tendered it for.
If the chance of a take-over premium has receded, and there are many willing sellers stuck with over 60% of the shares they hoped to dump, what is going to prevent a big drop in SP, never mind get back to the tender price. I'm not filled with confidence tonight.