David Baskin
Dundee Wealth Management Inc.
DW-T
TRADE
Oct 23, 2007
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.
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.
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.
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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