POFNF - The Power Corp Of Canada Merger With Its Financial Subsidiary Offers Significant Value Including A 15.6% Annual Total Yield
Interesting Merger Between Two Intertwined Companies Will Release Value
On December 13, 2019, Power Financial Corporation (OTCPK:POFNF) which trades under the symbol PWF on the Toronto Stock Exchange ("TSX"), and Power Corporation of Canada (OTCPK:PWCDF), which trades under the symbol POW on the TSX, agreed to a merger. They call it a reorganization, but it seems to be much more than that.
Here is what they agreed to do:
Background: Power Corporation of Canada ("PCC") owns 64% of Power Financial Corporation ("PFC"). But Power Financial ("PFC") represents most of