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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments
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To: TRIIBoy who wrote (11924)11/7/1999 11:14:00 AM
From: umbro  Read Replies (2) of 18998
 
TR2, this stock split on BELFA is a little different. It is a stock dividend payable in B shares: From the press release:


The special dividend will be one share of Class B common stock for each share of Class A and Class B common stock outstanding, payable on Dec. 1 to shareholders of record on Nov. 22, 1999.

The company has about 2.6 million Class A and 2.6 million Class B shares outstanding.


As I read this, the resulting stock situation will be 2.6 mil. shares of A shares and 7.8 mil. (2.6 + 5.2) shares of the B
shares outstanding. What are the relative terms of the A and B shares? As you mention, this may juice up the trading interest in the B shares, but it looks more like a slight-of-hand to effectively dilute the B shares, to me.
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