Regulators are wossiesCan't expect anything from the Canadian securities watchdogs, after all these are the guys who still haven't a clue about Sir Hollinger and the Black Knight.
But we weak publicans have to ask regarding Norbord
1. was there insider trading. Certainly looks like it
2. WHile Brascan has the right to sell their shares, only a majority owner can underprice (and screw) everyone else. How can this be? You and I can only sell at the market price. If 18 million shares do end up being sold, why aren't the Brascan shareholders a little peeved at leaving about $3/shr on the table? Even for Brascan $50 million is not table scraps.
3. Its such a sweet deal you have to wonder who Brascan is being so nice to. Any chance the buyers are the sons and daughters and cronies of Brascan management? In Canada you can get away with that (See Hollinger above)
Again, nice going Canadian securites establishment. Great way to build confidence and spread the shareowner ethos around the country. Where is Elliot Spitzer when you need him?