small pih holders can stop the scheme , page-6

I would love to know how this affects PIH chances of buying BAM out of DBCT, which I actually feel is pretty unlikely, or BAM's chances of buying PIH out of DBCT, or whether either scenario becomes immaterial once the merger occurs ???

If it doesn't go through, gaining finance for the new DBCT port will have a lesser capital backing amount and BAM and friends will be stuck at that local SP value instead of the BIP.nyse value. The overall company debt will increase in line with DBCT expansion port and the local price will remain a reflection of that with similar local SP interest unless PIH looks like being able to buy out BAM which is less likely as the debt mounts up.

With a languishing SP due to the liklihood of BAM gaining 100% of DBCT 2014, that itself may become a self fulfilling prophecy.

I am interested in whether the merged company will be listed on the asx as well as .TO and nyse or whether 16% of the company (ex beppas) will only be able to trade .TO and nyse. If it is the latter, that is a factor that BAM will use to get rid of the ex-Beppas.

More than half the Beppas went through in the days before 20 Nov 2009 so I would be sceptical that AET&D and $1.00 value per Beppa is such a strong factor anymore, I would put it more as a chance of a small bonus to be used as a distraction and carrot for other purposes. (result is wholly dependant on Duet and the banks imho)

Theoretically, all the ex-Beppa PIH's have been turned over a few times already on the asx so it is obviously a plaything.

I think BAM are using AET&D as a means to woo ex Beppas into disappearing and we haven't heard the last of it.

The bribes are in place in the form of higher div promise to those that go to BIP, hardly necessary as a convincer for BAM's friends. No mention of BAM's ability to extract higher divs from PIH as they expect to do in the future after debt is reduced.

side note.... NGPL result was a combination of the manager gaining local brownie points and Obama's polititical promises to Chicago affecting FERC, independant pfffft, unreal.

Sparcs are immune to all this bs :) hey dargie.