Post by
stitch1956 on Jun 17, 2015 4:27pm
debentures = Takeover?
Checked the purchase of debentures back to the begining of may--Anonomous and Scotia accounted for substantially all of the volume. One house buying and the rest selling is not what you would expect on $9,610,000 in total volume. We don't know who Anonomous is but if you lump them in with Scotia it gets interesting. Certainly any acquirier would want to get a hold of the debentures to avoid dilution. Also the Debs hit a high of 113 today so they are not buying for yield.
Comment by
helgek on Jun 18, 2015 5:34pm
I was thinking about what the best price for the debentures would be. Is it 130 (forced redemption @ $1.82)?
Comment by
bigdaddycash on Jun 18, 2015 6:10pm
not sure that is how it would work? I think the debenture holders would need to be kept whole at the greater of $1.82 (130% or $1.40) as you indicate or the buyour price per share - whichever is greater. but not sure on this?