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Chyanne Fickes Dundee Wealth Management Inc. DW-T COMMENT Oct 01, 2007

Bank of Nova Scotia (BNS-T) just completed an agreement for 18% of the stock. CI Financial (CIX.UN-T) is also interested, but have to put a memorandum to the board. Until that happens, we won't know what will happen. An arbitrage play at this point.

Chyanne Fickes

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COMMENT

Near term fundamentals do not matter. This stock may be in play with Scotia (BNS-T) having bought 18% and CI Financial (CIX.UN-T) making an offer above what the bank paid. Question is, will the Goodman family tender to CI, will they encourage Scotia to pay more, are they going to find another bidder or will they not allow a takeover.

SELL

Whenever you get a company that is in play, you are really rolling the dice. If you own, you might consider taking a little off the table.

TRADE

There has been no noise from potential bidders, however people (and he) believes that there is "another shoe to drop". Believes an enhanced bid will emerge that the board will find difficult to turn down.

HOLD

Probable takeover. There are motivated buyers and it is going to be very difficult for the company to turn down a good bid.

SELL

If you own, consider taking some profits but keep some shares to see what happens.

DON'T BUY

(Market Call Minute.) Great company. Well run. Probably over exposed to the mutual fund side. Bit of a problem for the next little while.

COMMENT

Goodman family has no desire to sell so don't buy for takeover possibilities. Will probably do okay in the long run but in the short-term their income is slowing. Would prefer a company that is more focused on shareholders needs, not family’s.

COMMENT

Seems to be moving up but he doesn't know why since financials are under stress. Great assets.

BUY

More than likely BNS becomes the ultimate owner. Reorganized their wealth management unit last week.

BUY

Bullish on this one. With this you get the mutual fund company and the investment bank. As we go through a recovery all these businesses are improving substantially. 1.1% yield.

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Chyanne Fickes Dundee Wealth Management Inc. DW-T COMMENT Oct 01, 2007

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