Q: BN got a nice bump today, about 2.6%, and the only news I could find was about their sale of some Transalta shares. Is that the reason for the jump in the share price? Do you know how much profit BN made on the sale of those shares? Do you have an idea what they plan to do with the funds? Or is there some other reason the stock jumped?
5i Research Answer:
We would not consider the Transalta transaction material to the company but we do not have details. There are always news items on BN but we nothing really of note. Even before this sale, BN has more than $100B in capital available. We expect significant M&A activity from the company.