Sprott makes hostile $3.1 billion bid for Central Fund of Canada\t <\/p>\n
From the Canadian Press
\nvia Canadian Broadcasting Corp. News, Toronto
\nWednesday, March 8, 2017<\/p>\n
http:\/\/www.cbc.ca\/news\/canada\/calgary\/sprott-takeover-bid-central-fund-canada-1.4015314<\/p>\n
Toronto-based Sprott Inc. said Wednesday it’s making an all-share hostile takeover bid worth $3.1 billion US for rival bullion holder Central Fund of Canada Ltd.
\nThe money-management firm has filed an application with the Court of Queen’s Bench of Alberta seeking to allow shareholders of Calgary-based Central Fund to swap their shares for ones in a newly-formed trust that would be substantially similar to Sprott’s existing precious metal holding entities.
\nThe company is going through the courts after its efforts to strike a friendly deal were rebuffed by the Spicer family that controls Central Fund, said Sprott spokesman Glen Williams.
\n“They weren’t interested in having those discussions,” Williams said.<\/p>\n
Implications ????
\nFor Americans, CEF was structured to afford holders certain tax advantages wrt the collectibles rate on bullion. Would this continue under Sprott?<\/p>\n","protected":false},"excerpt":{"rendered":"
Sprott makes hostile $3.1 billion bid for Central Fund of Canada From the Canadian Press via Canadian Broadcasting Corp. News, Toronto Wednesday, March 8, 2017 http:\/\/www.cbc.ca\/news\/canada\/calgary\/sprott-takeover-bid-central-fund-canada-1.4015314 Toronto-based Sprott Inc. said Wednesday it’s making an all-share hostile takeover bid worth $3.1 … Continue reading