Aimia Inc. stock is flying following a $250-million offer made from a consortium that included Air Canada to acquire the Aeroplan loyalty-program business. Although the offer was increased to $325-million, Aimia says it wants $450-million. Insiders have spent net $1.2-million buying shares in the public market over the past 90 days with chairman Robert Brown picking up 32,000 shares on Wednesday. Mittleman Investment Management, which holds a 10-per-cent stake, was a net buyer of just more than $1-million of shares over the period (not shown on chart).
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.