The only ones upset abut this are the noteholders. well they have received 10% every year for a long time. There is nothing wrong with this move and it is within the rules. After all note holders have less risk exposure vs shareholders, that is why they can not have two bites at the cherry, they have had many nice bites and now it is time to settle down, vote for the extension, hope that the sale goes through as promised, then they will get their two dollars a note back and can invest into other notes at 10%.
Stop with the sour grapes and accept the good deal that you have been enjoying for many years. Disappointed by the way that normal shareholders were never offered any notes.
AZZ Price at posting:
50.0¢ Sentiment: None Disclosure: Held
