RE:Is this wrong Yes, that is wrong.
That may be the case but probably not. There is no floor price on the pref securities so if everyone tried to sell the day after the deal goes through, the pref securities price would drop and people would be selling at for less than $0.70/ share
risky wrote: Anyone can now buy the shares at 50 cents and sell at 70 cents for a 40% return the day after the deal goes through ?