RE:RE:RE:RE:RE:RE:Buying another companyfor those interested , take a look at the drama unfolding with TAIGA BUILDING PRODUCTS (T:TBL). Its a very similar wholesaling business with some value added components such as a pretty large pressure treating division with plants across Canada and the US and its headquartered in BC. So right now they have a 70% single shareholder out of Singapore thru a holding company called Avarga and someone is attempting to take it private with what is being seen as a hostile take-over....why you ask??? well TBL trades below $4 and makes huge cash and has only paid out a few special dividends..so the bottom line is if this dude takes Avarga private, he will now control 70% of TBL meaning there is only 30 mill shares as the public float...due the math - even at $6 offer , he could use TBL's own money to take it entirely private....thoughts???
see below... "from TBL's Q3 2024 MD&A found on sedar.......they now have $1.70 ish per share in cash... remember , we have a controlling shareholder with 70% ownership ..
Total assets were $681.2 million as of September 30, 2024 compared to $624.3 million as at December 31, 2023. The increases were primarily due to increases in cash and cash equivalents, as well as increased accounts receivable.
Cash increased to $174.4 million as of September 30, 2024, from $152.8 million as at December 31, 2023. This is primarily due to changes in operating activities and working capital. "