Stuart Olson Inc CUUHF

Globe and Mail - Stuart Olson (DOG)

[Construction555]

I wonder who provided advice to Board and Management over the various takeover offers over the years.  I think a long time ago AECON was interested in buying and there were other offers.  I guess they were waiting for $0.12. Not an MBA so can someone explain? Also, anyone know how much ending up in the pockets of management and the Board?

From Globe and Mail:

"Normally, when a company receives a takeover offer, its shares rise. Unfortunately for shareholders of Stuart Olson, its battered stock headed even lower. Bird Construction announced the acquisition of the Calgary-based construction services company for $96.5-million in cash and shares. But given what Stuart Olson’s CEO called the company’s “balance sheet and leverage metrics challenges,” almost all of the money will go to Stuart Olson’s lenders, with just $4-million ending up in the pockets of shareholders. So much for a takeover premium."

[Capharnaum]

$4M landed in the CEO's pockets. He's taking in as much as all the shareholders collectively. Really disgusting.

[Construction555]

Sad in a way.  Management has saddled the company with too much debt for their poorly thought out  pet acquistion projects.  The market has no confidence in this managemtnt team and  as a result they could not convince the capital markets to refinance or restructure the debt.  Poor planning on their part lead to the poor deal with Canso.  Funny in the end they will be

[MageMystic]

If one individual Makes as much on a aquisition as all shareholders combined, many of whom are employees who invested thier pension money, is there not something remotley related to negligence afoot on some level?  It is more than poor leadership, and incompetance.  The compensation comittee comprised of board members also were potentialy negligent or perhaps just bullied and therefor

[Doggedness]

Their whistleblower policy is a sham. Private messag me.