Any idea? Is there dilution of the B stock from the proposed deal?
Search this forum as this has been discussed many times. The short answer is the tax implications for US investors. Most buy A in taxable accounts and B ain non-taxable accounts.
Those numbers are below the 52 week low and are probably warranted given the dismal earnings.Also the scripts program will dilute shares.
In the words of the late Milton Friedman: "There is no free lunch". The price of crude has to eat into net profit. Yes you can try to generate cash to preserve the dividend but long term this will only diminish profits unless the price of crude and its products skyrocket. In that case Mattress Mack will lose.
SEC is a sleeping dog that never wakes up. This looks like combining too bad companies to create another bad company. Like Sears and Kmart. JMHO