Of course they announced this deal prior to 3rd quarter results so we dont know if this is fair.
It probably is and management did the right thing by selling rather than going bankrupt.
Anyhow I sold my 40,900 B shares today for a $32,700 increase in portfolio today based on funds if market yesterday for TOC.B (.70cents bid) but overall sold at a loss based on average purchase price.
Most people owning Toc.A and B will be selling at a loss at takeover price.Just pleased to be provided with a liquidity event.
Raised more cash in portfolio now 70% cash.
Lots of uncertainty in market due to fiscal cliff,Europe.
Canadian juniors suffering from very low oil prices due to lack of pipeline capacity that will not be rectified any time soon.Natural gas exports to U.S headed to zero due to an abundance in U.S.
I will limit myself to trading ETF's for short term gains until clarity returns to the financial markets.
Dividend paying securities will remain very attractive to investors and companies that are in a position to start distributing cash should do so.
Will be spending less and less time on the markets and focus on enjoying life.