Post by
Jeff11 on Mar 24, 2022 7:23pm
Special meeting delayed
Re: the news release tonight saying the special meeting is going to be delayed after meeting with 'significant shareholders'. Would anyone be able to expand on what they think this means? I am confused as XX was the one who initiated the strategic review, and also seems to be the one delaying (cancelling?) the SSC deal. Thanks in advance.
Comment by
deleuze68 on Mar 24, 2022 11:01pm
I think it's Fairfax. They converted the debt to shares to block the transaction, knowing that Avante could do better.
Comment by
Stonksonlyup90 on Mar 25, 2022 12:02am
Maybe Fairfax will take it private
Comment by
mlmack on Mar 27, 2022 3:38am
SSC agreed with the delay, maybe Fairfax will do a debenture deal with SSC like they had with XX so SSC could pay the 1.75 in all cash or maybe even up it to 2.00 cash. Maybe they have another buyer lined up or maybe they will take it private. They are in at 1.56 and Fairfax will not lose money on XX. Bought more Friday on the drop.