12:14:40 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Canada Bread Co Ltd
Symbol CBY
Shares Issued 25,416,812
Close 2014-05-08 C$ 72.20
Market Cap C$ 1,835,093,826
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Successful Inv says tender Canada Bread

2014-05-08 20:17 ET - In the News

The Successful Investor, in its May, 2014, issue, says tender Canada Bread Co. Ltd., recently $73. The Investor said buy 15 times from July, 1995, to September, 2007, at prices ranging from $10 to $60. Assuming an investment of $1,000 for each of the 15 buys, tendering the $15,000 position at the offer price of $72 would yield a profit of $37,976. Shareholders have approved a $72-a-share takeover offer from Mexican bakery giant Grupo Bimbo SAB. Canadian and U.S. competition regulators have also approved the deal. Canada Bread's shares are trading slightly higher than the bid, because the deal lets the company keep paying quarterly dividends of up to 75 cents a share until the transaction is completed. The parties expect to close the deal by June 30, 2014. The newsletter recommends tendering your shares to the offer to receive the full $72 without paying brokerage fees.

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