Tag Archives: Intrawest Resorts tender

Intrawest Resorts Holdings (SNOW) – Odd Lot Tender Offer – Risk Free upside of 13%

Current Price – $8.77

Offer Price – $9 – $10

Upside – potentially 13% or $120 (if the upper pricing limit is used), otherwise guaranteed return of 2% (if lower pricing limit is used)

Expiration date –  10 February 2016

No proration for odd lot holders

Some thoughts: The price shop up 30% upon tender announcement although only 12% of shares will be purchased. Therefore I would expect price still to decline today or during the next few days, so intiating position