Scottish Re Group Ltd Perp Pfd (SKRUF)

[h_man_investor]

All valid points but MM and Cerb aren't buying the preferreds the company is. Buying the preferreds immediately increases book value, is a good use of excess cash sitting on the balance sheet which they cannot currently distribute, lowers potential future dividends needed to avoid board representation and/or make a cash distributions, and protects them should they need to convert to equity or liquidation/wind up.

So for all this they are willing to pay a premium to protect their investment. This is a great move by them- I was shocked at the price. I expected a much lower tender offer.

I still am not sure of your position.