So BFCF owns the recently acquired BXG. I'm thinking the BFCF shares are highly undervalued and they will begin to rise before this merger is a done deal. I think BFCF is worth $3.00 a share at least which would bring BBX share price above $15.00. It will be interesting to hear the earnings report expected out from BBX May 30th. When is BFCF's next earnings? Anyone have an idea on the potential share price of BFCF before the merge closes. This def. seems like a lowball offer with book value alone for BBX at $15.50. I'd be suprised to see BBX stay in the $13 levels.
Also I quote "The listing of BFC's Class A Common Stock on a national securities exchange or interdealer quotation system of a registered national securities association is a condition to consummation of the merger."
That would mean BFCF would need to at least be $5.00 a share to list meaning BBX shares should rise way north of $15.00 for the merger to be completed. What am I missing here....both BBX and BFCF look very undervalued.