Does MM now like Regal Partners (RPL)
Dear James / Shawn, What is your opinion of RPL now they have pulled out of bidding for PAC ? Is it a buy ? John.
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Answer
Hi John,
Regal Partners (RPL) pulled the bid for Pacific Current (PAC) this week after what appears to be a lack of engagement from Pacific’s side. We attributed little chance of the deal going through, though this week’s news seems to have helped the stock bounce.
We expect Regal to remain acquisitive with support from a strong balance sheet while also growing organically with the funds already in their stable. Despite the bullish outlook, we are unlikely to add to the position in the Emerging Companies Portfolio, feeling a 4% weighting is sufficient.
