beppa payingest11cents so bbi can get 4 cents, page-2

I agree with you mikes100 that the 4cents that will be paid to BBI holders rightfully belongs to BEPPA holders, yet the GS expert opinion doesn't look at it that way. Seems to me BEPPA holders are being charged for the cost of getting BBI security holders to vote 'yes'.

I also believe that the GS expert report hasn't adequately addressed the adequacy of the assets which back BEPPA (in terms of their view that BEPPA holders are better off taking the 43c of value than taking their chances in a liquidation). On this point I tend to agree with Bronte Capital and various other commentators. I'd like more detail on how GS came to their conclusions released by BBI - the 'high level' comments just aren't adequate imo for such an important consideration by BEPPA holders. I'd also like to know if there was some sort of 'ex gratia' payment to the holder who sold their 61 million BEPPA.

I certainly don't think a 75% BEPPA vote on the day is guaranteed, though I think there's a lot of work going on to make sure that it does. My own inclination right now is to vote against it.