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Gold/Mining/Energy : Air Canada is taking off?
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To: david koong who wrote (810)9/2/1999 9:50:00 PM
From: zakynthos  Read Replies (1) of 1033
 
I don't believe it makes much sense to be selling shares now. It seems to me that with an offer of 8.25 by onex we have a minimum price. Air Canada is certainly preparing something as the offer makes little sense from their perspective. If the deal falls through and the 8.25 dissappears, so does Canadian, which means Air Canada shares should benefit handsomely. If a counter offer comes in from the Air Canada alliance partners it will be for more than the 8.25 and certainly around (probably more) than the present share price which seems to be holding around the 9 to 9.25 range. So why would anyone rush to tender their shares today? A fallback to 8.25 as a risk seems limited downside compared to the upside potential when we know (believe?) that the shares without Canadian in the picture could place us at between 12 and 15.
Just some thoughts.I've been sitting on my shares for close to a year now.My tendency is to wait this out. I believe we will see the upside range. As for the Government they seem to have established their desire for a "market" solution which they would like to present as a made in Canada one, so I think it will be difficult for them to intervene too openly with bail out money or conditions for Canadian.
I would appreciate comments.
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