For Those who Are Looking for a Spot to Invest After TakeoveI had been in CIX for about 4 years and had frankly not seen the takeover coming. Disappointing last few years with IPO cancelled, dividend cut, debt growing etc. But they came through.
At the same time I have been in two other asset managers in Canada.
FSZ - Fiera which has some similarities to CIX such as a relatively high debt load that analysts don't like and have lost a couple larger clients BUT they have a dividend of almost 9 percent that was just increased by the Board so they have no concerns about coverage. And managementnl has a huge holdings and a history of build and sell.
AGF - This one is primarily held by the Goldring family who are still involved but getting older. There is almost no debt here and they have a 4 percent dividend and have been buying smaller shops to bolster assets. They have also turned positive on sales and a dividend increase is expected in early 2025. Eventually the Goldrings will get an offer they can't refuse.
I'm both cases these companies are undervalued and should eventually get bought out. And we get paid to wait.
GLTA - would be nice to get at least one of these two in 2025 if not both.