RE:RE:SURPRISED ! SIB Auction Prices Are > USD 8.75 & < USD 10.25 Can't see many investors willing to sell at less than $10 US .. but who knows in this uncertain market.
Obviously Algoma will want to buy low & share holders will want to sell high.
Regardless, it can only benefit the remaining shareholders.
If Algoma buys back at $10 US, that's 40 million shares. The EPS would move from $7.13 to about $9.77 & the Price/Earnings Ratio would drop to 1.24 (absurdly low) based on today's current price of 12.14.
If the final pirce is lower than $10 US .. all the better for the remaining shareholders.