Freeport-McMoRan (FCX)

[eddy2]

That’s dirty pool my friend when there selling the preferred share along with credit back to the company creating a shareholders debt at market interest rates.

That is how the spread is created between the two offerings. Market cap is always taken from the lowest trading offering. Yes time is now on the side of the preferred getting a dividend and the commons not getting one.

I could see the preferred by the next 10q being delisted with the old commons sliding into the new 25 year roll overing of the debt.

Going to be interested if this goes in with money left on the table or not. Crazy, Crazy stuff coming down here Frank. These guys are the best at there game for sure. Well experienced old toads swimming in a pool of tadpoles from what I can see here.