Laurentian Bank of Canada T.LB

Strategic review

[autofocus111]

Interesting that there were no rumours about the earlier attempt by a rival bank to buy LB.

>>>Laurentian Bank of Canada, which has been working on a turnaround under a new chief executive officer since late 2020, has started a strategic review that may lead to a sale. The review is intended to “maximize shareholder and stakeholder value,” the bank said Tuesday. It has hired JPMorgan Chase & Co. to approach potential buyers, La Presse and the Globe and Mail separately reported Tuesday. The process started after a rival bank made a bid for Laurentian, the Globe said, citing people it didn’t name.

https://www.bnnbloomberg.ca/laurentian-bank-starts-strategic-review-possible-sale-1.1944367

[Possibleidiot01]

Seem to be a lot of takeover attempts in many industries  that get rebuffed at the board level and aren't disclosed to shareholders.

[winnerswing]

So what do you think the takeover price would be? 35? 40? 50? 60? more?

[RayDonovan78]

This bank is a TURD, $50-$60 is a Ross Healy dream. So much for the new CEO turning things around and Ross's top pick for over 5 years !!! It will be interesting what his rambling will be next time he is on BNN, 

[bucheroncapital]

Got out today @ 44,28 very happy got a very good capital gain and a superb dividend (will get the august 1 2023 payment on top) I do think this will yield 45-50$ in a deal but got other plans for the $ invested in LB it was a nice ride thank you. GLTA 

[wkrpradio]

Sounds like Projection from a bitter investor.  

[RayDonovan78]

Not bitter at all my friend. I sold most of my position in March 2020 when the world was ending and made a forture elsewhere. I still hold a little but an $80 sale price is DELUSIONAL.

[wkrpradio]

How do you now come up with $80 , when your post states the $50-$60 target is delusional. FYI I never mentioned a price target , I just took issue with your gutter description of a company that I am invested with. My purchases at $30.50 this year are a great R.O.I.      

[RayDonovan78]

You need to go back and reread my posts. I never said $50-$60 was delusional. I said $80 was delusional and I did not come up with that number someone else posted that delusional number.

[rad10]

80 bucks a share would be nice, but it's not realistic.  It's trading near where the HSBC assets sold.   Anything more than book would raise questions about the competence of the suitor.  I have positions in 5 of the 6 Canadian major banks.  If any of them pay 80 bucks - it'll be time to close that position.

[autofocus111]

Stock was trading at ~0.6 P/TBV before the surge today. I'd expect an offer would value LB at a 1.0x multiple at a bare minimum and probably 1.2x more reasonable. That translates to a buyout target price in the range of $55-65. Anything lower I'd expect the BOD to reject it. If mulitple bidders emerge a 1.5x multiple is conceivable... so $80. 

[RayDonovan78]

$80....Lol.

[RayDonovan78]

So $80 is off the table now ????  Lol