Top shareholder in Air Canada, Transat calls revised buyout offer ‘reasonable’

MONTREAL (Reuters) – The biggest shareholder in Air Canada AC.TO and Transat A.T. Inc TRZ.TO said on Tuesday that AC’s revised offer for the Canadian tour operator was “a very reasonable one,” given the turmoil in the aviation industry.

FILE PHOTO: An Air Transat airline takes off from Paris Charles de Gaulle airport in Roissy-en-France following the coronavirus disease (COVID-19) outbreak in France March 24, 2020. REUTERS/Charles Platiau

Peter Letko, a co-founder of investment manager Letko Brosseau, called the deal “good news” but said the firm would wait to see if a rival bidder emerged before committing to the Air Canada offer.

On Saturday, Air Canada, Canada’s biggest airline, cut the deal value to buy Transat by nearly 75% to about C$188.7 million ($143.9 million), down from C$720 million, as COVID-19 weighs on travel demand.

Transat shares rose as much as 30% as Air Canada’s revised offer raised optimism the

Read More

Read More

3 Top Dimensional Funds You Must Grab Today

Dimensional Fund Advisor offers investment solutions from different asset classes to institutional and individual investors, investment consultants, and financial advisors. With a workforce of more than 1400, Dimensional Fund Advisor has 13 offices across several countries, including the United States.

Dimensional Fund Advisor invests in both domestic and foreign equities, fixed income securities, retirement income funds, real estates and commodity markets. As of Jun 30, 2020, it had nearly $514 billion of assets under management. For the past three decades, the company has been providing investment management strategies to its clients. Founded 39 years ago, this fund family is headquartered in Austin, TX.

Below we share with you three top-ranked Dimensional Fund Advisor mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of funds.

DFA U.S. Targeted

Read More

Read More

Tata Motors: FCF And Deleveraging Are Top Priorities (NYSE:TTM)

Tata Motors Limited (TTM), a dominant player in the Indian commercial vehicle market, is one of the most undervalued companies in the automotive industry with an A+ Value Grade backed by trading multiples being materially below the sector medians. But while cheap valuation might be a Buy signal, investors should interpret the price the market is paying with caution, as there is always a reason or, better to say, a story behind low multiples.

Source: UnsplashSource: Unsplash

TTM price has gone up ~14% since October 2019, but if we place these gains in a broader context, e.g., look five years back, we will notice that it has been just a price fluctuation amid an incessant decline since late 2016 when the stock was trading above $40 for the last time. But it did not happen without cogent reason: the downward plunge was precipitated by a slew of downside catalysts.

For example,

Read More

Read More

Personal Growth Needs To Be Every Cloud Software CEO’s Top Priority, Says’s Rene Lacerte.

On this episode Of Scaling Up, March Capital managing partner, Jamie Montgomery and Forbes futurist Rich Karlgaard talk to’s founder and CEO, René Lacerte. is a fast-growing cloud software company that sells automated payment services for small and medium sized businesses. When we interviewed Lacerte, BILL was worth $8 billion in market cap; today it is $9.12 billion. We talked about fast growth leadership, mentorship secrets, and how Lacerte’s father was a pianist for the late Gram Parsons, even though Lacerte’s father was missing four fingers.

Click below for video.

MORE FROM FORBESPersonal Growth Needs To Be Every CEO’s Top Priority, Says’s Rene Lacerte

The following transcript has been edited for clarity and length.

Rich Karlgaard:  René, what was your original mission, how was it progressed, and the fundamental question – why is what you do important to your customers?

René Lacerte:  We think of

Read More

Read More

Pope Meets Australian Cardinal Pell in Midst of Money Scandal | Top News

VATICAN CITY (Reuters) – Pope Francis met on Monday with Australian Cardinal George Pell, the Vatican’s former economy minister who has returned to Rome after the firing of an Italian cardinal whom Pell had accused of obstructing financial reform.

Pell was cleared earlier this year of sexual abuse charges in Australia after spending 13 months in prison, and it remains unclear whether he will take up another role in the Vatican.

The Vatican announced the meeting between Pell and Pope Francis in a statement on the pope’s daily private audiences, but gave no details. “It went very well,” Pell told reporters in front of his residence just outside the Vatican walls.

Pell returned to Rome on Sept. 30, just days after the pope fired Pell’s nemesis, Italian Cardinal Angelo Becciu, who was accused of embezzlement and nepotism. Becciu has denied all wrongdoing.

While Becciu was number two in the Vatican’s

Read More

Read More

Nasdaq-Like Valuation No Deterrent for Poland’s Top Stock

(Bloomberg) —


Load Error

Poland’s newest stock listing became the largest company on the country’s main exchange, highlighting investor demand for technology exposure as the Eastern European nation is introduced to Nasdaq-level valuations. SA shares jumped as much as 51% to 65 zloty at the start of trading in Warsaw on Monday. The firm and its private-equity investors priced the 9.2 billion-zloty ($2.4 billion) IPO at the top end of a marketed range, cashing in on soaring demand for digital sales as consumers stuck at home indulge in virtual retail therapy.

Before the trading start, analysts at Bernstein estimated Allegro’s enterprise value to earnings before interest, taxes, depreciation and amortization to be about 37, above the likes of Inc and Alibaba Group Holding Ltd, but below MercadoLibre Inc. and European fashion retailer Zalando SE, according to data compiled by Bloomberg.

“Allegro was priced close to global technology leaders

Read More

Read More

1 2 3 7