Canadian REITS, Trusts & Dividend Stocks Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: kingfisher who wrote (772)	3/17/2001 1:32:26 AM
From: Lorne Larson	Read Replies (1) of 11633

Been a very interesting week watching the PWI/CYZ/REY arbitrage plays. For the last month CIBC has been selling PWI and buying CYZ, in large volume. Amazing to me that shares of both companies are selling at such low prices, and that CYZ is selling at more than a nominal discount to PWI. Must reflect some concern that the CYZ takeover won't be approved, and also the fact that a lot of people holding CYZ just aren't interested in a boring royalty trust, and are dumping their shares. I've sold all of my PWI and have used the money to buy CYZ (same as CIBC). With the $14.00 payment for 10% of the shares factored in, I've been effectively buying PWI today at around $8.50. PWI should bounce big-time after the take-over is done, but who knows in this market. Also interesting to see that SHN has hardly moved at all, even though they just announced a $1.10 quarterly dividend payable in April. CIBC is playing games on this one as well - selling SHN and buying IOI.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next