BB Liquidating Inc. (BLIAQ)

[Rawnoc]

I didn't realize it was from 2007 until after I posted it.

The proposal never happened (yet).

You're wrong again though -- the conversion doesn't dilute the As. The earnings per share and book value per share remains identical because the Bs already "dilute" the As since they are already identical and entitled to everything the As have.

Management probably dropped the proposal at the time because both sets of shares were trading so closely already they figured why bother? But now the market has gotten ridiculous again following the March 3 massive panic selloff. It's slowly waking up though.... +176% premium reduced to a +71% premium. If you had invested $10,000 in BBI.B on March 4, 2009 it would be worth $22,352.94 now. If you bought BBI? $13,829.79. You'd have 62% more money buying the BBI.Bs and at virtually any point since the capitulation selloff of March 3-4, and you'd have more money buying the BBI.Bs than if you bought the BBI. It's virtually "free money" (relatively to holding the As) just sitting there waiting to be snagged and has been the successful strategy to go with for the 5 years before March 3-4, 2009 and the 4 months since.