Q: Blackstone has put in bid to buy TCN outright for $11.25 US ( approx. $15.00) Canadian. The stock did jump up in price when that bid was made . It now sits around $14.92 Canadian and I'm still in the hole approx. 21 %. Should I sell it now or wait for other potential buyers ? Thanks for any insight.
5i Research Answer:
We do not expect more buyers, but the odds are still above zero. But from an arbitrage point of view, there is only 2% left in the shares at the offer price, and we would be comfortable moving on for other ideas.