RE:RE:RE:If only...You're right. Nobody here saw this coming and even professional analysts were giving Dream Office a higher than $15.50/unit valuation all throughout the time period that the SIB was active.
We still don't know why Dream/Cooper chose to do this. Some people think the tax implications of not tendering influenced the decision, other people think Dream tendered everything since they knew that the SIB would be oversubscribed since it would be oversubscribed by 6 million units even if nobody but Dream tendered and therefore Dream tendering everything does not necessarily mean that Dream wanted to rid themselves of each and every unit of Dream Office. Other people think Dream tendered their units because they needed the liquidity for Dream Unlimited or felt there were better investment opportunities elsewhere and other people still think Cooper has given up on office and wants out.
Who is right? No clue. Dream Office is very well behaved today in public markets. It is nice to see nobody is panic selling after having a weekend to reflect on things. Thank you for sharing that SLG news Frankie. Really impressive stuff!
SNAKEYBOY wrote: No one, and I mean NO ONE saw DAM submitting 19 million to a 12.5 million SIB. Many thought they would not even tender or at max their tax bill.