Q: I have substantial units of DIR.UN and I am wondering when the $10.80 USD ($15.01 CD) take over by Morgan Properties would be reflected in the CDN price of the units?
As of this writing the price of DIR is only $12.29 CD?
I don't want to sell if the price will come up. Usually the acquired company's unit price goes up and the acquirer's goes down? Thoughts. Thanks. Bill
As of this writing the price of DIR is only $12.29 CD?
I don't want to sell if the price will come up. Usually the acquired company's unit price goes up and the acquirer's goes down? Thoughts. Thanks. Bill
5i Research Answer:
Note the offer is for DRR.UN, NOT DIR.UN. At $14.72, the price of DRR is much closer to the offer price. The small difference reflects a little deal risk (all deals need to be approved) and the time value to closing.