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Wow, that link indicates that members likely won’t get anything, even their $5 share, back. So who is benefitting from the sale?
by schemescape 3y ago
Wow, that link indicates that members likely won’t get anything, even their $5 share, back. So who is benefitting from the sale?
- bombcar 3y agoObviously the board of directors.
- sokoloff 3y ago> The struggling Canadian retailer… > the elimination of the co-op structure is “needed to ensure a stable future for MEC’s retail business.” In 2019, the retailer lost a reported $11.487 million on annual sales of $462 million, a slide that capped years of disappointing performance for the company > In the end, however, the board concluded that the only realistic path forward was a sale to Kingswood. Doesn’t sound like there were a lot of bidders clamoring to take it over. Holders of $5 shares may have had a realistic option to get $0 by not selling or $0 by selling.
- deleted 3y ago[deleted]