Avenor (avr-tse) - Repap buyout (rpp-tse) Message Board

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Gold/Mining/Energy : Avenor (avr-tse) - Repap buyout (rpp-tse)

AVR 4.210

-2.3%

Nov 5 3:59 PM EST

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To: Guy Paquin who wrote (109)	3/3/1997 1:51:00 PM
From: Phoenix	of 290

The takeover is not based on price. It is based on 8 shares of RPP for 1 share of AVR. I was surprised by this new deal. I expected the ratio would increase from 4.25 : 1 to about 5.5 or 6.0 to 1. This may indicate that RPP's finance is not as good as the management said; otherwise, it would not give up about half of the value at the last minute. Last year, I saw some companies "suddenly" turn bad. Usually, the management would give a good outlook and I could read some good "analyses" from newspapers and investment companies but things turned bad just in one or two months. For example, Spar, Arimetco, Corel, Ariel, just to name a few I can remember right now.

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