So, Riverside stock shot up from $23.50 to over $30/share after the $29/share takeover bid by Tolko. Allan Thorlakson (founder, president and CEO of Tolko) owns 19.9% of the shares in Riverside. In round numbers, based on the report values in the news stories and the stock prices, the value of his stock went up roughly $15 million today. Basically this guy, already one of the 100 richest people in Canada, made $15,000,000
today for just talking about buying more of a company he already owns roughly 1/5 of.
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mbarrick
