Manitoba Tel - Closes at $40.37, Anyone Surprised?
Manitoba Tel - Closes at $40.37, Anyone Surprised?
Hello all,
Apologies in advance for the following potentially dumb questions...
As a holder of MBT since 2009, I note that it closed Friday at 40.37 which is above the BCE offer price of $40. Not sure why, but I'm vaguely surprised.
I telephoned TDDI with my disposal instructions (cash) as instructed back in January.
Now that the transaction has closed, does anyone know when the payout will take place? My cursory search reveals nothing.
If it drags on for a while, can I place a sell order online with TDDI (if it stays above $40), and claim the rights of "snooze, you lose" when BCE finally gets around to me?
My first takeover experience, hence all the questions.
Thanks in advance for the collective wisdom here, cheers,
Tony
Apologies in advance for the following potentially dumb questions...
As a holder of MBT since 2009, I note that it closed Friday at 40.37 which is above the BCE offer price of $40. Not sure why, but I'm vaguely surprised.
I telephoned TDDI with my disposal instructions (cash) as instructed back in January.
Now that the transaction has closed, does anyone know when the payout will take place? My cursory search reveals nothing.
If it drags on for a while, can I place a sell order online with TDDI (if it stays above $40), and claim the rights of "snooze, you lose" when BCE finally gets around to me?
My first takeover experience, hence all the questions.
Thanks in advance for the collective wisdom here, cheers,
Tony
Re: MBT closes at 40.37, anyone surprised?
Hello,
I own BCE shares. If I had owned MBT shares, I would have opted for 100% stock. You'd be getting one of Canada's bluest of the blue chip companies. It has a dividend yield of about 5%. The dividend has increased every year at least for 15 years. I'm showing a capital gain of 126% over 7 or 8 years. Also, by accepting shares, you avoid any capital gains tax.
Anyway, sounds like you've burned your bridges there.
I own BCE shares. If I had owned MBT shares, I would have opted for 100% stock. You'd be getting one of Canada's bluest of the blue chip companies. It has a dividend yield of about 5%. The dividend has increased every year at least for 15 years. I'm showing a capital gain of 126% over 7 or 8 years. Also, by accepting shares, you avoid any capital gains tax.
Anyway, sounds like you've burned your bridges there.
Cheers
"A dividend being paid today is always a positive return." Josh Peters, Morningstar
"A dividend being paid today is always a positive return." Josh Peters, Morningstar
Re: MBT closes at 40.37, anyone surprised?
Hi Sensei,
Yup, you're right, bridges are burned, so, moving forward, the question remains, wait for BCE to come with cash, or sell now to highest bidder?
My shares are in a registered account, so no Capital Gains.
According to my calculator, after Friday's nice pop to $58.30, BCE's offer of .6756 share for each MBT share, would equate to about $39.39 per share, so I'd be happy to let them go for $40.37, but is that legit?
Again, I appreciate the collective wisdom here, cheers,
Tony
Yup, you're right, bridges are burned, so, moving forward, the question remains, wait for BCE to come with cash, or sell now to highest bidder?
My shares are in a registered account, so no Capital Gains.
According to my calculator, after Friday's nice pop to $58.30, BCE's offer of .6756 share for each MBT share, would equate to about $39.39 per share, so I'd be happy to let them go for $40.37, but is that legit?
Again, I appreciate the collective wisdom here, cheers,
Tony
Re: MBT closes at 40.37, anyone surprised?
Except BCE needs to stop growing its dividend for awhile. Both it's dividend payout ratio and debt load is high. A material increase in interest on debt will hurt a lot. The primary thing keeping me in BCE is it still has a double digit ROE/ROCE. If/when that falters much further, I will be 'out'.
finiki, the Canadian financial wiki The go-to place to bolster your financial freedom
Re: MBT closes at 40.37, anyone surprised?
You could always try to put in a buy order and see what happens. If it is not possible you'll know soon enough.
Cheers
"A dividend being paid today is always a positive return." Josh Peters, Morningstar
"A dividend being paid today is always a positive return." Josh Peters, Morningstar
Re: Manitoba Tel - Closes at $40.37, Anyone Surprised?
Question has gone moot - opened below $40 today, now trading at 39.77.
I snooze, I lose. Sigh.
I snooze, I lose. Sigh.
- Peculiar_Investor
- Administrator
- Posts: 13270
- Joined: 01 Mar 2005 14:52
- Location: Calgary
- Contact:
Re: Manitoba Tel - Closes at $40.37, Anyone Surprised?
Market makers and professional merger arbitrage investors usually play an active role in these types of situation and I'd find it hard to believe for large companies like BCE and MTS that there would be any scraps left over for the retail investor to profit from the situation.
finiki, the Canadian financial wiki New editors wanted and welcomed, please help collaborate and improve the wiki.
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
-
- Contributor
- Posts: 95
- Joined: 30 Jul 2005 19:50
Re: Manitoba Tel - Closes at $40.37, Anyone Surprised?
Still waiting for my cash from BMOIL for MBT....
I thought this deal was supposed to close on March 17 but it is now March 25 and my BMOIL account is still showing my MBT shares. Sent them a message 3 days ago but no reply.
I thought this deal was supposed to close on March 17 but it is now March 25 and my BMOIL account is still showing my MBT shares. Sent them a message 3 days ago but no reply.
Re: Manitoba Tel - Closes at $40.37, Anyone Surprised?
As I understand it, it can take circa a week for changes to be noted in brokerage accounts. Probably a result of the work effort undertaken by the transfer agents than the brokerage itself. I believe that all folks like BMO IL do is post what is given to them from external sources. Somewhere else, I saw a note from someone in another forum say that they saw the data in their TDDI account yesterday. Be patient.
finiki, the Canadian financial wiki The go-to place to bolster your financial freedom
-
- Contributor
- Posts: 95
- Joined: 30 Jul 2005 19:50
Re: Manitoba Tel - Closes at $40.37, Anyone Surprised?
Thanks. I just wanted to get this cash to work right away.AltaRed wrote: ↑25 Mar 2017 13:08 As I understand it, it can take circa a week for changes to be noted in brokerage accounts. Probably a result of the work effort undertaken by the transfer agents than the brokerage itself. I believe that all folks like BMO IL do is post what is given to them from external sources. Somewhere else, I saw a note from someone in another forum say that they saw the data in their TDDI account yesterday. Be patient.
Re: Manitoba Tel - Closes at $40.37, Anyone Surprised?
Yup,
TDDI showed the disposition and acquisition transactions on Mar 24, fwiw.
Cheers,
TDDI showed the disposition and acquisition transactions on Mar 24, fwiw.
Cheers,