I think the deal will go through.
Potentially the spread is increased b/c consideration is predominantly in PIG (i.e. effectively IPO stock).
I think PIG could trade poorly on listing b/c of BEPPA & SPP flippers (+ the issuer price seems fair, but not cheap). Accordingly if I was a BBI holder (I'm not) I would be wary of the SPP.
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- confidence in recap approval appears misplaced
I think the deal will go through. Potentially the spread is...
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