RE:RE:RE:New SIB at 12USD/shareThanks for letting us know....
Bruce Flatt is taking aim and this is a transaction where BAM is sinking their teeth in slowly. And interesting how BAM is utilizing other BAM investor funds to fund the transaction.
Just imagine if this bid gets filled at US$12 and they could not fill a much smaller bid at US$21 a short time ago. If it does get filled, expect a privatization bid at around your US$15 per share. BPY is in play again!
No matter what, this puts a long term floor for the stock and the company is in very strong hands and things like their preferred shares yielding 9% all over the place are gold now.
I found it interesting how BPY did not buy any stock in the month of May or June. We know why now.
Their Q2 results are now in the books and I am guessing results are not great. I would also bet and think it would be very smart if they cut or suspend their huge dividend and allocate it to stock buybacks.
Still long,
Vette