Canada’s Titanium going private with a 40%+ bump in stock price
Canadian-based carrier Titanium Transportation Group is going private at a hefty premium to the company’s closing stock price on Wednesday, the day prior to the announcement of the deal.
The offer to take the company private is CAD$2.22 per share, 41% over the closing price on the Toronto Stock Exchange from the prior day of $1.58. It is also a 42% premium over the 20-day volume-weighted average.
The offer is all-cash. Titanium Transportation (TSO: TTNM.TO) stock closed up 62 cts to $2.19, a gain of 38.61%, just under the offer price.
Titanium Transportation’s 52-week low was $1.23, recorded in early November.
The buyer of the company is TTNM Management Acquisition Co. Ltd. along with Trunkeast Investments Canada….
