I think we have enough info. What we don't know and they could not tell us is what will the pps be when time arrives that one could convert to common. It appears to me that taking the deal you know of a sure profit. What we don't know is how much smaller the profit would be than keeping the common. So for some that sure thing is what they want. Forget the risk of where the PPS will be. The preferred will be worth $1 now and then. Won't it?
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