Is anyone following the AZZ stock - appears they have a recap proposal being put to shareholders. Im trying to work out where that leaves the AZZ notes as ABW was a substantial holder - surely the notes need to be dealt with prior to a recap of the company. I have seen some vague mentions of noteholders but I cant find any substantial explanation.
I know that ABW have previously written the notes off as worthless I just wonder if recent events have changed this. Any ideas?
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