Post by
15Stanmore on Mar 02, 2018 9:17am
Pre-opening Bid-Ask is $2.23 - $2.23
Looks like the assessment is swinging towards the deal closing next week.
That being said, I am surprised a Chinese insider who actually knows today whether the deal will close next week would not be buying into the deal personally through nominees, buying anything on offer all the way up to $2.61. Classic risk free arbitrage play, if you have the insider information and believe you can dodge the insider trading restrictions which apply in the Canadian market. Past behaviour has shown that Chinese nationals offshore do not worry about the Canadian secuity rules when it comes to making money personally.