2023-04-23 11:00:00
There may still be an interesting profit to be made with the action of the Boucherville auto parts distributor Uni-Select.
The sale ofUni-Select to the American company LKQ was announced in February, but Uni-Select shareholders have yet to approve the transaction. They will meet on Thursday to decide.
LKQ is offering $48 per share while Uni-Select stock ended Friday’s session at $46.76 in Toronto. A Uni-Select shareholder, portfolio manager Philippe Hynes of the firm Tonus Capital, is considering increasing his stake since he calculates that the discount relative to the proposed price offers a return of 8% between now and the close of the market. ‘operation.
“This is an attractive return in this difficult period for the markets,” he said in his quarterly letter published on Friday.
The involvement of Rogers In Cogeco has not finished fueling the discussions. Desjardins analyst Jérôme Dubreuil pointed out this week that by keeping its tens of millions of Cogeco shares, Rogers management signals that it continues to see strategic merit in keeping them and that the current stock price underestimate their value. Should Rogers decide to sell them, TD’s Vince Valentini thinks a private transaction that includes Cogeco on the buying side is possible. This expert also believes that a partial monetization operation with bankers can be considered, which would avoid a direct sale of Cogeco shares on the market.
The 30% jump in the action of Lion in two days at the beginning of the week coincides with the visit of the company’s facilities in the Laurentians organized on Monday for journalists and analysts. The trading volume recorded in the stock during Tuesday’s trading session was particularly remarkable. Such high stock market activity had not been observed since the publication of quarterly results last August.
Observers anticipate with interest the forthcoming publication of the circular of Bellus Health to verify the competitiveness of the process that led to the announcement this week of the sale of the Laval biopharmaceutical company. The attractiveness of the product developed by Bellus to treat chronic cough could have justified the interest of several potential buyers, argues analyst Gregory Renza of RBC. This expert says he received comments about the sale price which would underestimate the value of Bellus.
Research reports published by short sellers are increasingly common, points out to The Press the public affairs manager of the Montreal payment solutions provider Nausea. “We will not comment on or respond to the views expressed by the authors of the report,” said Alex Hammond in response to questions raised by the negative document published Tuesday by the American firm Spruce Point Capital. Alex Hammond says Nuvei management remains focused on executing its business plan.
The offer to purchase GSK on Bellus Health unveiled this week brings to five the number of Quebec public companies targeted by companies outside Quebec since the beginning of the year. Debt, Uni-Select, Hexo et Haivision are the other local businesses that have received offers. In the case of Haivision, management rejected the request.
The relaunch of the title of Cogeco Communications will likely require clarification around the expenses associated with a possible breakthrough in wireless through a mobile virtual network operator agreement, but also surrounding what Rogers intends to do with its shares of the Quebec company. Either way, TD analyst Vince Valentini thinks fears are overblown.
The Quebec titles of Molson Coors, Bellus Health et CGI reached a new 52-week high on the Toronto Stock Exchange this week. On the other hand, those of Lassonde, Dorel et Taiga hit a 52-week low this week.
1682255070
#wise #investor #UniSelect #opportunity