I would think sooner than later. BBX is grossly undervalued so they wouldn't have to pay more than they did before. NBV is 19.49 now... Why wait for the price to rise?
I see 2 objectives for BFC... Consolidate their ownership in one entity and obtain a major exchange listing. Keep in mind Bluegreen is actually owned by Woodbridge which is owned 54/46 by BFC/BBX. And, BBX already has a NYSE listing... 81% owned by BFC. I'm sure there are a few ways they can do it but in any case the minority BBX owners will be the first winners. That is my humble opinion (as a BBX shareholder).
Yes, they have the cash in various entities to merge and keep BBX's listing as well as eliminate the dual reporting. A very big win-WIN!
CorEnergy Announces Financing and Lease Updates
KANSAS CITY, Mo.--(BUSINESS WIRE)-- CorEnergy Infrastructure Trust, Inc. has completed the previously announced refinancing of the Pinedale Liquids Gathering System Secured Term Loan. CorEnergy, together with its co-investor, repaid $58.6 million. Following this refinancing, CorEnergy has in excess of approximately $60 million of liquidity for acquisitions, or repurchase of equity or debt securities.
CorEnergy also announced that each of its tenants remained compliant with their respective lease agreements, including the timely payment of monthly rents.
Yes, and add to it management greed, lack of strategic focus and the fact it's an unknown small-cap with a complex structure.