RE:RE:Bam now determines the value of Bpy via the .3979 metric .Vette ,
I am sure all take value in your analysis of the Bpy to Bam proposal .
I feel that each individual investor and their goals may determine how they will approach the offer assuming it stays the same as we approach the third quarter .
If your goal is to participate with Bam holding Bpy for the long run then you may wish to have all your Bpy shares converted to Bam shares . This would be more equitable since then the value of Bam would determine your conversion point but the proration could hinder this . It seems the deal is structured to provide a mixture of Bam shares , cash and preferreds - not matching the goal of long term holders of Bam !
If Bam as a whole continues to rise as the US economy improves ( see last quarter employment #'s ) then we could see the value of Bpy surpass the 18.17 ( or Bam at 45.66) cash valuation . The offer may have to adapt .
In my opinion this offer is very subjective to short term market conditions when my goal is long term growth with Bam - even if Bpy is privately owned by Bam .
Thanks for listening .
ted