Geo, et al;
You need to google the PPHM poison pill and understand how it works. The PP IS NOT an $11 premium over the current PPS. It is a mass dilution that will STOP any hostile turnover! Basically every share someone owns (except those owned by the entity trying to takeover) has the right to buy 1/1000 of a preferred share for $11. So a preferred share costs you $1100. BUT... each preferred share has 1000 votes on the acquisition AND MUST BE PAID 1000 times the price paid for a common share!!!
So NO company will even try a hostile takeover unless they are trying to mess up a deal that some other BP has. Once PPHM employ the PP, they will only need a small portion of the people to exercise their rights, (and only the idiots would not) and the takeover would be cost prohibitive.
That's how it works, look it up.
JBAIN
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