Greetings,
Is it possible that the sudden rise is due to a potential share offer for FNC or the McFauld's claims FNC owns?
Since April of this year, the NOT:FNC share price ratio has consistently tracked roughly 2:1. This has me thinking that a share offer could be in the works whereby FNC shareholders would receive 1 NOT for every 2 FNC. Even if it were only for McFauld's, I would still support this move as a NOT shareholder. As for FNC shareholder, what a bonus if they get a piece of NOT and keep the rest of their company.
Thinking of this scenario, I envisioned that the trigger to this scenario would be a quick push up in the price of NOT. That pushes the ratio higher than 2:1 and if announced would immediately pull up FNC, thus making the optics of the deal look good.
I've always believed that nothing would happen to NOT until FNC was dealt with. Probe played ball with NOT and look where they are today. Time for FNC to play ball too. Bottomline, anyone playing the Ring of Fire most likely own both stocks anyway.
Monday is FNC's annual meeting (I think, please correct if I am wrong). Is this a coincidence that NOT goes on a run on a Friday? Monday should be interesting. I hope I am correct with my educated guess.
Have a nice weekend,
Buckner
