CANEXUS CORP 6.5 PCT DEBS T.CUS.DB.D

Superior Break Fee ~ Paid.

[Calgaryrider]

Or more or less paid.... Check it out in the SPB release today. Transaction costs for the three and nine months ended September 30, 2016 include $1.1 million and $19.7 million, respectively, in costs related to the terminated acquisition of Canexus Corporation ("Canexus Acquisition")

[Kherson]

Calgaryrider, your assessment is not correct. If Superior had paid the break fee, which I know they didn't, nor will they, it would have shown up in the 3rd quarter. What you are referencing is simply the transaction costs associated with the planned merger, which has been terminated.

[mo1975]

the 19.1 millions is in reference to the disposal of the construction business sold....as for the 1 millions it is probably just the legal fees associated with the cus merger attempt...not the break out fees.. there will be substantially more legal fees and it will probably take a year or two....the lawyers love those because they take time and they linger in courts for years  just as spb

[Calgaryrider]

Did you guys even read it. It says very directly that $20M were costs associated with the Canexus deal. This is English and can't be refuted. One of you says $1M were legal fees, the other says $20M were legal fees. If you honestly think legal fees amounted to $20M - for a deal that never closed! - you got another thing coming. That's 25 lawyers working 10 hrs a day for 90 days straight

[MattMckienzes]

This post has been removed in accordance with Community Policy

[MattMckienzes]

This post has been removed in accordance with Community Policy

[Kherson]

Calgaryrider, you may want to read p.5 of the 3rd Quarter MD&A under the heading Terminated Acquistion Canexus Corporation, then apologize to both Mo and me! The figures being quoted were for the 3rd quarter and first 9 months respectively and yes $20 million for 9 months of legal fees is not out of the question when one is talking about anything Canexus! Kherson

[mo1975]

Calgaryrider, the western english must be different than the eastern english 1.1 for canexus deal and respectively 19.7 million for the divesture... so calgaryrider an apology  would be nice Transaction costs for the three and nine months ended September 30, 2016 include $1.1 million and $19.7 million, respectively, in costs related to the terminated acquisition of

[mo1975]

Calgary rider... on the june mda of canexus,  they claim expenses related to the merger for the first 3 months endind march 2016  of 4.5 millions   I think canexus is using the same law firm as superior plus    4.5 for 3 months      that is 50 hours a day at 1000.00 per hour for 90 days so at least 10 laywyers a day including week ends...... 

[Roxy27]

A lot of that cost will relate to financing fees related to the equity raise. The purpose of the raise was for the acquisition so it makes sense. The commission alone is 5% or higher, plus the road show, legal, etc. It costs a lot of money to raise equity. The conference call will sort that out. Good luck. 

[Kherson]

Calgaryrider, have got this math problem straightened out yet? Hopefully you now understand that the lawsuit between Superior and Canexus is still on going! Kherson

[Calgaryrider]

Kherson, congrats.   You win.   Next topic.   Relevant or irrelevant; You pick.

[Kherson]

The supposed break fee from Superior did not show up in the Canexus 3rd quarter financials. As I have said since the beginning, it won't be Superior paying the Break Fee!