Q: Would appreciate clarification regards large hit to LNR today; can only assume it relates to the acquisition of two German companies and financing arrangements; can you add to this?
5i Research Answer:
LNR had no news this week. The acquisitions of March 27 may be a factor, though they were, in aggregate, quite small (adding $200M sales to a $10b base). The sector may have been hurt with continued worry about Chinese EVs entering the Canadian market.