For those of you still holding onto your First National $FN.to shares until the bitter end, note that the acquisition is expected to close this month, with October's dividend scheduled to NOT be paid.
$CHE.UN Chemtrade Logistics bought back shares ~230,700 shares ~$13 CEO and CFO buying lately
Was waiting for a pullback but sold the rest of my $FN.TO shares this morning to add to this one.
Today on the newsletter is an ode to Moneyball, which is low-key an excellent investing book.
And how you can use the concepts to replace a great dividend stock like $FN.to in aggregate.
canadiandividendinvesting.co…
So I have spent the day wondering how to replace $FN.TO.. well quite frankly, you cant.
-Huge insider ownership
-increasing and special divs
-bet on Canada economy
-reduced share count
Conclusion: sucks, but happy $Bn and $bam are top 5 largest holdings
You have a replacement?
Tale of two preferred share series: $FN.TO$RCG.TO both taken out
1: First National Preferred to be left outstanding and continue to trade publicly, 6%
2: RF Capital Preferred to be acquired at 25$ par value dividends until next redemption date (Mar 26), 55%.
$EQB.TO (EQ Bank) up 3.6%, presumably on the hope that Stephen Smith, the biggest shareholder, takes it private. Smith already bought out Home Capital, and now is privatizing $FN.TO. 🧐
Today's M&A notes
$FN.to to be acquired by Birch Hill / Brookfield for $48.00, 13.0% premium, $2.9bn
$RCG.to to be acquired by $IAG.to for $20.00, 107.3% premium, $597mm
$PRYM.to to be acquired by $TXG.to for 0.06x shares, 18.5% premium, $449mm
alpharank.com/live-updates/m…
$FN.TO First National Financial Corporation agrees to be acquired by Birch Hill Equity Partners and Brookfield, with existing shareholders Stephen Smith and Moray Tawse maintaining minority ownership
$48 a share
ca.finance.yahoo.com/news/fi…
BREAKING: First National $FN.to to be acquired by Brookfield and Birch Hill for $48/share. That’s a ~13% premium compared to Friday’s close.
FN offered a terrific combo of dividend yield and growth. I was looking forward to owning it for a decade or two. Too bad.
$FN.TO being acquired for a slim 13% premium. Shame to lose a steady high-div stock.
First National Financial Corporation agrees to be acquired by Birch Hill Equity Partners and Brookfield, with exis... prn.to/40Exnh1
Sad to see $FN.TO go. (And not just because I sold most of mine 20% lower recently)
Was a great little company that was a nice stable total return yielded