Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, November 26, 2010

Article Excerpt

DUNDEEWEALTH INC., $20.51, symbol DW on Toronto, has received a friendly takeover offer from Bank of Nova Scotia (Toronto symbol BNS), for the 82% of the company that the bank doesn’t already own. In September 2007, Bank of Nova Scotia paid $348 million for an 18% interest in DundeeWealth. The bank also gained a right of first refusal on any sale of the controlling interest in DundeeWealth. Bank of Nova Scotia is now offering 0.2497 of a Bank of Nova Scotia common share for each DundeeWealth common share. Plus, each DundeeWealth shareholder can choose to receive either $5.00 in cash or 0.2 of a $25.00, 3.70% five-year rate reset Bank of Nova Scotia preferred share for each DundeeWealth common share. DundeeWealth shareholders will also receive a special distribution of $2 a share, as well as a $0.50-a-share interest in Dundee Capital Markets, which will be set up as a separate company. Dundee Corporation (Toronto symbol DC.A) owns 48% of DundeeWealth, and has…