this co is in a squeeze. The asset market is closed (ie they cant sell assets) and they need cash for their development pipeline.
AAZPB ... they WILL step up. No chance of ALZ getting $275m to redeem them for cash, and as you say and equity issue would be massively dilutive! So they will effectively be perpetual. I'd be more intersted around $70-80. No rush on this one I think.
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