In the case of CR, do you think the recent change in Cap gain taxes was a factor in CR's all share deal? Certainly it makes it more valuable to management wanting to cash out. It surprised me that TOU was using shares, since arguably shares of TOU are also somewhat depressed.
Probably a factor on both sides of the trade. Crew shareholders get a tax free rollover and Tourmaline gets the benefit of $1.3 billion in tax losses carried forward.
In the case of CR, do you think the recent change in Cap gain taxes was a factor in CR's all share deal? Certainly it makes it more valuable to management wanting to cash out. It surprised me that TOU was using shares, since arguably shares of TOU are also somewhat depressed.
Probably a factor on both sides of the trade. Crew shareholders get a tax free rollover and Tourmaline gets the benefit of $1.3 billion in tax losses carried forward.