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Emmis Communications Corp. Message Board

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  • pjv2xyw9dww4b5 pjv2xyw9dww4b5 Nov 14, 2011 9:30 AM Flag

    Where's the 8-K?


    "The transactions will settle pursuant to the terms of total return swaps or escrow arrangements, the terms of which provide that until final settlement of these arrangements, the seller agrees to vote its shares in accordance with the prior written instructions of Emmis."

    Does Emmis intend to regard the preferred shares that it buys in such transactions as <wink!> still "outstanding" (since title to them has not formally passed) so that the shares can be voted on matters requiring 66 2/3%? #$&*(()@&#*()$!!!

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    • I would imagine the answer to that is...yes.

      Even if they don't get that many shares this approach seems to be geared to keeping the preferred price low so as to make a low priced tender offer at low prices more attractive for preferred shares.

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