I guess we now know what it means to get in the good books of Euromoney?
First it was Abu Dhabi Energy acquiring Prime West Energy Trust. Then it was Hong Kong Billionaire Li Ka Shing acquiring TransAlta Power Income Trust and now we have Korean National Oil acquiring Harvest Energy. Meanwhile where is Euromoney man’s proof of tax leakage that was the false and fabricated argument for this insane policy? None of these buyers will pay a dime of taxes in Canada on these company's earnings, and are displacing Canadian investors who were happy to pay taxes at the rate of 38%. There's your tax leakage. Tax leakage created by this very policy.
Well done Stephen Harper and Jim Flaherty. You have made it an embarrassment to be a Canadian, as your actions have made fools of all of us.
Korean National Oil to Buy Harvest Energy Trust for $3.9 Billion
By Greg Chang
Oct. 21 (Bloomberg) -- Harvest Energy Trust said it agreed to a C$4.1 billion ($3.9 billion) sale to Korea National Oil Corp.
The buyer will pay C$10.00 per unit for a total cash consideration of about C$1.8 billion, and assume C$2.3 billion of debt. The price represents a 47% premium over the 30-day weighted average trading price of the units on the Toronto Stock Exchange up to and including yesterday.
Last Updated: October 21, 2009 21:12 EDT
Wednesday, October 21, 2009
Posted by Fillibluster at 10:21 PM