Q: TRI: offering put option whereby sell back shares to corp.; but, at what price? You have mentioned special dividend. Is this part of the same thing?
5i Research Answer:
TRI is doing a special dividend and consolidation, s the result is investors will get a bit of cash but slightly fewer shares, and the net impact will be essentially nil and shareholders will maintain their pro rata interest in the company. These are related and we would select the option that matches the currency of the account in which the shares are held.