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Gold/Mining/Energy : Sleeman Breewerie -- Ignore unavailable to you. Want to Upgrade?


To: Sebastien Souligny who wrote (3)7/29/1998 12:00:00 PM
From: AriKirA  Read Replies (1) | Respond to of 18
 
Hi guys,

I posted the following this morning on the other thread.

There was a huge internal block trade at 9:37 by First Marathon.
799 000 shares at 8,25$
The highest volume this year was approximately 650K.

After the financial post's article regarding the possibility of a takeover, the price reached a high of 9,10$. Since then, the price has been steadily dropping on light volume.

In my opinion, the aforementioned block trade should raise a red flag.

Can anyone enlighten me on this trade?

PS:
Most securities commissions require a filing if one purchases more than 10% of the outstanding shares.
If I am not mistaken, the block represents a percentage of shares just under the required amount.

Anyone have any comments?

Thanks in advance

Happy Trading

I doubt that the purchaser will be Molson since they recently purchased 50% of their shares (23% market share) held by Fosters Brewing Group for 1 billion.
(refer to the press release dated as of June 23 1998)

A takeover bid will more likely come from Labatt Brewing Co., owned by Interbrew NV.