RE:RE:RE:RE:RE:BBD.PR.CThanks ya'll for your replies! Much appreciated. Agreed that the Beaudoins will stubbornly keep doing all in their power to protect their voting power over the company. Still good to have the numbers in mind.
Rundawg wrote: Until the Debt due >2023 is re-financed, the PR.C are definitively safe from conversion. The PR.C have a market cap of ~$150MM, under the theory that if you are trying to refinance $7.0B in Debt, are you really going to tell the Market things are that desperate that you need to convert $150MM in prefs to Commons? That'd be like telling the buyer of your house that you are getting Divorced... Martel and the gang are doing a good job in displaying confidence to the market - Repaying Debt, etc. they aren't going to look desperate by converting the PR.C's anytime soon. If anything, there may be a chance that they do a SIB on the prefs (B, C & D) to take them out @ lets say 65-75% of BV, with the understood threat that anyone who doesn't take the buyout on the Cs would be converted to common Bs.