On Monday the S&P 500 was about unchanged and Toronto was down 1.2%. And oil was down about 6%.
TransForce rose 6.2% after completing the sale of its waste management division.
The Boston Pizza Royalties Income Fund rose 3.1%.
I don’t follow Amaya Gaming but it was in the news with a suggestion that its founder /President David Baazov would attempt to take it private for $2.8 billion or $21 per share. The stock jumped 20% to $18 on the news. It’s not a done deal as the financing is apparently not in place. Though based on the acquisition of Poker Stars it appears that the company has access to debt financing.
I mentioned Amaya in these comments on June 15, 2014 when the (then) tiny Amaya bought the vastly larger Poker Stars for $4.9 billion in cash (Some of which was debt) . I was skeptical of the deal at that time. The deal did happen and the shares issued at $20 at first rose but later fell below the issue price.
For whatever reasons it is just not a company (or a President thereof) that I would be prepared to put a lot of trust in. If I owned it I would perhaps sell half on this 20% pop. However, there were also reports that an eventual buyout would occur at above $21. Keep in mind, I don’t follow the company. I am just rather surprised that such a big buyout can be financed. I suppose it depends who the finance partners are.