I’d love to find out the float in this O/S means squat in R/M plays.
Shares not in the float is the control block in many cases. Those get retired back into treasury for a different form of control through P-shares with ultra super vote counts. If they dump the O/S, they lose control of the shell to one of us retail. That’s what got me looking in this. I view MC as float x price. It’s how the New Co will be looking at the value of the shell. This very well could’ve a +.50 pps
But how to get accurate #s.
For example look at BD @ CM. Shell guts retired 60mm of the 69mm O/S leaving a 10mm float. I’d love to see that I here. I’m still on the BID with my pipe dream to get filled