Post by
tbnorthstar on Nov 05, 2020 7:18pm
Speaking of acquisitions
I had written earlier in the day Intact was in a position to acquire more assets in the next two years. Lo and behold, they come out this afternoon with this....once this deal is put to bed, it is off to the races for IFC. In the meantime, I will use the upcoming share price weakness to add to my position.
https://www.cibc.wallst.com/research/stocks/news/article.asp?docKey=600-202011051545CANADANWCANADAPR_C3363-1×tamp=11/05/2020%203:45PM%20ET&headline=RSA%20Insurance%20Group%20plc%20(
Comment by
eXclusif on Nov 06, 2020 12:52am
RSA stock went up 46% after this news, don't think IFC stock will stay at this price for too long. Lets close this deal Intact!
Comment by
tbnorthstar on Nov 06, 2020 1:54pm
The big question is, where does the Intact paper get priced at? There is going to be a good sized underwriting here and you know the price will be at a discount to the share price, no premium here for sure. Hopefully they can do $140.00 per share. Will know more before year end I would imagine.
Comment by
tbnorthstar on Nov 09, 2020 1:40pm
So much for 140 on the upcomng equity raise, probably 130 or a bit better...they will knock this down as best they can to get their price....
Comment by
beancounter11 on Nov 09, 2020 8:20pm
I bought some more today, I have owned for a long time and was going to add before earning. Then of course waited until after earnings perhaps I am early based on the equity raise that is going to come with the aquisition, but I can't really time things and if it does drift down I have no issues adding more and being overweight.
Comment by
eXclusif on Nov 11, 2020 4:16pm
Are you saying drop in IFC share price is good news for RSA takeover?
Comment by
tbnorthstar on Nov 12, 2020 8:16pm
Yes, that is what I was saying. Now that the terms are out the downward pressure should ease off.