RE:RE:RE:RE:BPY US$17.99 / BPYU US$18.58Hi NP,
The market for the month or so has been telling us where the deal was heading.....$18.17 is very much in the range,
As for the BPY NAV of US$28 disclosed by management relative to the valuation determined by Lazard being between $14-$18.5 per share is a complete disgrace and is a hit to the credibility of BPY management for sure. Lazard basically laughed at management by even suggesting US$14.
I think the truth is, BPY has lots of issues and they need to be fixed behind the curtain and the likelihood is that BAM did us all a favour by taking it out.
Vette