There may still be an interesting profit to be made with the action of the Boucherville auto parts distributor Uni-Select.
The sale of Uni-Select to the American company LKQ was announced in February, but Uni-Select shareholders have not yet approved the transaction. They will meet on Thursday to decide.
LKQ is offering $48 per share while Uni-Select’s stock ended Friday’s session at $46.76 in Toronto. A Uni-Select shareholder, portfolio manager Philippe Hynes of the firm Tonus Capital, is considering increasing his stake since he calculates that the discount relative to the proposed price offers a return of 8% by the end of the market. ‘operation.
“This is an attractive return in these difficult times for the markets,” he said in his quarterly letter published on Friday.
Rogers’ stake in Cogeco has not finished fueling discussions. Desjardins analyst Jérôme Dubreuil pointed out this week that by keeping its tens of millions of Cogeco shares, Rogers management signals that it continues to see strategic merit in keeping them and that the current stock price underestimate their value. Should Rogers decide to sell them, TD’s Vince Valentini believes a private transaction that includes Cogeco on the buying side is possible. This expert also believes that a partial monetization operation with bankers can be considered, which would avoid a direct sale of Cogeco shares on the market.
The 30% jump in Lion’s stock in two days at the start of the week coincides with the visit of the company’s facilities in the Laurentians organized on Monday for journalists and analysts. The trading volume recorded in the stock during Tuesday’s trading session was particularly remarkable. Such high stock market activity had not been seen since the publication of quarterly results last August.
Observers are anticipating with interest the upcoming publication of the Bellus Santé circular in order to verify the competitiveness of the process that led to the announcement this week of the sale of the Laval biopharmaceutical company. The appeal of the product developed by Bellus to treat chronic cough could have justified the interest of several potential buyers, argues analyst Gregory Renza of RBC. This expert says he received comments about the sale price which would underestimate the value of Bellus.
Research reports published by short sellers are increasingly common, the head of public affairs at Montreal payment solution provider Nuvei told La Presse. “We will not comment on or respond to the views expressed by the authors of the report,” said Alex Hammond in response to questions raised by the negative document published Tuesday by the American firm Spruce Point Capital. Alex Hammond says Nuvei management remains focused on executing its business plan.
GSK’s bid for Bellus Health unveiled this week brings to five the number of Quebec public companies targeted by companies outside Quebec since the start of the year. Velan, Uni-Select, Hexo and Haivision are the other local companies that have received offers. In the case of Haivision, management rejected the request.
Relaunch of Cogeco Communications stock will likely require clarification around spending on potential wireless breakthrough through mobile virtual network operator deal, but also around what Rogers intends to do with its stock of the Quebec company. Either way, TD analyst Vince Valentini thinks fears are overblown.
Quebec securities of Molson Coors, Bellus Health and CGI hit a new 52-week high on the Toronto Stock Exchange this week. On the other hand, those of Lassonde, Dorel and Taiga hit a 52-week low this week.
