RE: RE: RE: Arbitrage is off!! You are correct salmon that I have not read all of your posts and certainly have no interest in "judging" you particularly if that means I need to go back and read them.
The argument that they were waiting to convert both is one that I have heard on the board but I don't think it really holds water when you get down to it. If the argument is that by converting the A's and doing a share-based compensation for suspended dividends should trigger the resumption of cash based dividends on all preferred shares, there are the C's and D's to consider as well. Does it mean that if the A's and B's can never convert because C's and D's are not convertible and have their dividends suspended? I think not and I don't find support in the prospectus for that argument.