AGT....might go "Private"

[farmaholic]

https://www.newswire.ca/news-releases/agt-food-and-ingredients-announces-receipt-of-a-proposal-to-effect-a-management-buyout-689235641.html https://www.newswire.ca/news-releases/agt-food-and-ingredients-announces-receipt-of-a-proposal-to-effect-a-management-buyout-689235641.html

At the last Rider game at the new Mosaic stadium, I saw bucket in the AGT lounge sipping cocktails while sitting beside al Katib....Murad and bucket looked like they were on a first name basis...

No, but really, what is this all about? I wonder where all the money is coming from for this "Privatization"....a move away from a publicly traded Company.

[farmaholic]

Look where the share price went after the announcement. The 37% "premium" evaporated!

[farmaholic]

319.9 million $ market capitalization
24.237 million Shares outstanding
19.918 million Shares floating

Is this an attempt to bolster market capitalization to improve "ratios"?

[HappyFarmer]

319.9 million $ market capitalization
24.237 million Shares outstanding
19.918 million Shares floating

Is this an attempt to bolster market capitalization to improve "ratios"?

This has been rolling around in my head for a day and I can't figure it out. The only thing I can think of is they are so bulled up long term about the direction of this company than now is the best time to buy those shares back to go private. Given the pulse situation one would have to think near term they are more trouble than good...who knows.

[farmaholic]

Parsley was poking around
Weber has a bit in his newsletter

There has been losses and other negative press about AGT.

[the big wheel]

I d lik to know who's money is being used in this whole outfit. How much government money has gone into this thing?

[bucket]

I d lik to know who's money is being used in this whole outfit. How much government money has gone into this thing?

LOTS.....

[bucket]

https://www.newswire.ca/news-releases/agt-food-and-ingredients-announces-receipt-of-a-proposal-to-effect-a-management-buyout-689235641.html https://www.newswire.ca/news-releases/agt-food-and-ingredients-announces-receipt-of-a-proposal-to-effect-a-management-buyout-689235641.html

At the last Rider game at the new Mosaic stadium, I saw bucket in the AGT lounge sipping cocktails while sitting beside al Katib....Murad and bucket looked like they were on a first name basis...

No, but really, what is this all about? I wonder where all the money is coming from for this "Privatization"....a move away from a publicly traded Company.

I don't know the guy but if I did sit beside him I would be scared he would eat me.....see the size of that guy?

[bucket]

Another member of the family tea by taking it private??????

[Kraut]

Depends who is driving the bus. Fairfax won't want this to stay private for too long. Prem Watsa did some things with BBerry awhile ago that could apply to this case as well. Fairfax and Point North own 10.5% and with options they still retain on convertible debt for up to close to triple what they already have. That would be approaching 50% with management 17% share. Unfortunately the 50% of other shareholders are the big losers unless they have held since day 1. Most will be quite upside down at $18 or even $20 if they are fishing for a better offer.
Privatize it, take average shareholder to the cleaner though it stems the bleeding shareprice under $15, wait for the cycle to rebound and they will be floating an IPO in a few years, perhaps a different name or structure somewhat, but that's only way Fairfax gets their $. And as always government invested $'s are sold for cents on the dollar (Spudco, Petro Can, Skydome, Sask Hwys, etc....)