Bullboard - Stock Discussion Forum Big Banc Split Corp T.BNK

Alternate Symbol(s): T.BNK.PR.A

The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date... see more

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TSX:BNK - Post Discussion

Big Banc Split Corp > Price pretty firm, second bid .... maybe

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Post by uograd on May 26, 2016 9:56am

Price pretty firm, second bid .... maybe

Have to say, the price is a little firmer than I would have thought before the AGM. Trading now at 2.05 which makes the arb at about 7%.

If there is going to be a second bid, it would have to happen before Tuesday so who knows maybe just maybe it is possible.

Unlikely but I have now upgraded the likelihood to maybe.

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Comment by MiranII on May 26, 2016 10:24am

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Comment by 1condor on May 26, 2016 11:20am

If you are here waiting for a second bid..it wont happen. This company will be sold for 2.20.

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Comment by uograd on May 27, 2016 8:07am

1Condor, I am here for the $2.20 but if someone wants to pay $2.75 or above, I can wait another 6 weeks for a second shareholder meeting to be called and voted on and then be paid out. Very unlikely but it will have to be announced by Monday if it is going to happen.

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Comment by decmalfee on May 27, 2016 10:50am

Why would you suggest by Monday? The meeting is on the 31st, but all voting is closed TODAY, MAY 27th. I would think this would mean that another bid would have to come beforehand. Given the time frame, this is not going to happen. As per Bankers' website..."Bankers Shareholders are encouraged to participate in the Shareholder Vote and reminded to vote prior to the deadline on ...more

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Comment by uograd on May 27, 2016 11:13am

good point. My only thought was if an offer was made by Monday at the latest they could postpone the shareholder meeting for Tuesday. However, all of this seems unlikely, so Tuesday the shareholders will approve and then we will wait out the Investment Canada approval and the subsequent release of funds. $2.20 works fine for me. I did pick up more this morning at 2.06 as a 6.5% return for ...more

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Comment by braincloud on May 27, 2016 7:28pm

This talk is idiotic. It's like saying ' I found $20 but I'd rather have found $200. You guys just blow me away. I'll be so happy once this deal gets done. I won't have to read all this diatribe any more. This deal is done like dinner. Move the eff on!!!

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Comment by bmeister2 on May 30, 2016 4:33pm

Agree BC, just ask all the guys who refused the PRE deal ( pacific Rubiales) were offered 6.50 ayear or so ago and now it is under creditorship. As I have said many times, I woulda,coulda,shoulda many times over with Bankers but my greed interfered so now I just want to move on. No more offers,folks. The goose is cooked.

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Comment by braincloud on May 30, 2016 9:33pm

The bet remains still on oil. If you believe oil is going higher and you want to step into another play then have a look at GTE or CNE for a foriegn play much like BNK and if you think it's going to $80+ then have a look at the most leveraged plays. They will pay off big time. I too should have sold out much higher, but I didn't, so as you say Meister there's no point in beating ...more

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