Air Canada’s (TSX: AC) C$800 million substantial issuer bid closed at C$29.00 per share, the bottom of its C$29–C$33 Dutch-auction range. The airline purchased 27,586,206 shares, representing about 9.8% of its shares outstanding before the offer, and ordinary qualifying tenders were subject to approximately 41% proration. Holders of qualifying odd lots were exempt from that reduction. For our… Read More »
We now have the first real test of our Computer Modelling Group odd-lot trade, and the preliminary result is almost as favorable as it could have been. Computer Modelling Group Ltd. (TSX: CMG) says its substantial issuer bid expired September 21 with a preliminary purchase price of C$4.50 per share, the very top of its C$4.00 to C$4.50… Read More »
Another odd-lot tender has appeared, and this one gets interesting almost immediately. Computer Modelling Group Ltd. (TSX: CMG) is offering to repurchase up to C$20 million of its own shares through a modified Dutch auction. The tender range is C$4.00 to C$4.50 per share, while CMG closed Friday, September 11 at C$3.80. Even better for our purposes, shareholders… Read More »