The actual offer is a printed "Summary" over 40 pagesI received a copy from my broker. Talk about baffling you with BS. They are buying a maximum of 3.5mm shares or 4.33% of current outstanding shares. Thus may not equal $U30mm. Page 30 to 36 goes into depth the various tax complexities including taking out withholding taxes for some and really seems confusing with 4 0f the 6 pages on taxes referring to US holders of the stock and they advise you seek professional legal advice.
I own a fair number of US shares and would likely spend more on legal advice than my after tax profit on this complex deal that appears that they also deduct 25% withholding tax which seems to reflect in the reduced dividends I have received in the past and will receive again this month.The FEC dividends are about 2% annual for me before US taxes.. Plus, it appears I have to pay Canadian withholding taxes of 25% plus US taxes on this buyback deal which they are not clear will be a dividend or a capital gain. The difference is significant for many.
I was one of the 10% who did nothing last time and will do nothing this time and hope the whole frigging company sells soon for far more than $12C meaning I will only pay 15% or less on my profit, if de Alba can sell the company for at least close to book value...