As I've said before... It's a "family" business! Bjut at some pt greed will drive them to sell. (We get to pickup the crumbs.)
Ahhhh.... I wish it were that easy! I do lots of reading and tracking. The mkt is my passion since I was was 18 yrs old. And yes, in many cases hi divys equate to hi risk. NNA is different, as are many others. If you hold BBX/BFCF long enough they will be winners for you. (As they have been for me over the past 4+ yrs.)
They were forced to pay 25% more for Bluegreen due to the class action - I finally got my share a few months ago.. This was the second time for them as they were sued (and lost) over their Woodbridge purchase years ago. It could happen again!
Yes I do have more on value compared to its public peers. BBX will see the first BIG jump when BFCF buys the rest of it.
I believe the true value of Bluegreen will be realized in the not too distant future sending both BBX and BFCF substantially higher. I have "large" positions in both and trade a portion when I can.
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!