Central Transport | Holding Comapny keeps buying stock in VTNC

[SouthernSeven]

I have edited my comment ...thread " Clarke Inc holds stake." I've also included some links to the 13 D filing.
I see there are 72 or more viewers that might want to go back and read those links. I'm confused. I thought the sale was a done deal except for closing. I believe Vitran Canada trades under different symbols than the U.S. So if the U.S. side is sold to a private entity why is a holding company still buying? Isn't that a little like selling your house to one guy while 6 more are buying it seperately? Again, I'm so confused!

Can anyone clear this up for me?

 

[stunhsif]

I have edited my comment ...thread " Clarke Inc holds stake." I've also included some links to the 13 D filing.
I see there are 72 or more viewers that might want to go back and read those links. I'm confused. I thought the sale was a done deal except for closing. I believe Vitran Canada trades under different symbols than the U.S. So if the U.S. side is sold to a private entity why is a holding company still buying? Isn't that a little like selling your house to one guy while 6 more are buying it seperately? Again, I'm so confused!

Can anyone clear this up for me?

USA has been spun off to a private holding company owned by ( Matthew Maroun). Canada will continue to operate as separate company and you can still buy stock in Vitran Canada as of this moment. 99.9999% the sale has gone through to Matthew, will know more tomorrow.

 

[buffalo1]

I tried to tell all of you that it was 10 business day's to satisfy banker's and liability. It started last Monday with the announcement. 10 day's will be up this Friday providing the Federal Government court's that review this are still active due to the government shutdown.

 

[Not_wanted]

I tried to tell all of you that it was 10 business day's to satisfy banker's and liability. It started last Monday with the announcement. 10 day's will be up this Friday providing the Federal Government court's that review this are still active due to the government shutdown.

HUH? 10 days up this friday,,,,, 10 working days,, they had till wednesday....

why would a court be involved? a court in only involved during sale of bankruptcy or conflict of interest, and then only after the SEC has ended their investigation, and this would not involve the SEC, Vitran is not a "player" or has some sort of secret the government wants to keep secret

 

[SouthernSeven]

USA has been spun off to a private holding company owned by ( Matthew Maroun). Canada will continue to operate as separate company and you can still buy stock in Vitran Canada as of this moment. 99.9999% the sale has gone through to Matthew, will know more tomorrow.

Thanks Stunhsif,
You are correct. I've had a bad day and was not thinking it through. It was when it occured to me that Vitran trades on the Canadian stock exchange under "VTN" but "VTNC" on the U.S. stock exchange that it all became clear. It also explains why the stock (VTNC) is steady rising now that the U.S. side is no longer a burden to the Canadian side.
While I have never been employed at Vitran a family member is currently a driver there. I worry for them and the future for the family involved. Good luck with your endeavors and wish the best for all who have to make such heavy decisions about their futures. I too once worked for a company that sold out, closed the doors on Christmas Eve after we had agreed to a wage cut "to save our jobs." No warnings, only a few minutes notice that they were closing. That was in "83" and I wonder to this day if they enjoyed that bit of "DIRTY WORK". Needless to say it was not a Merry Christmas!