Nice to see some big picture analysis on here. I think your 'other' discount factor is interesting. This category of discount is not insignificant given the complexities of this deal.
One nagging issue are the options (amongst other highly prejudicial rights) in favour of BAM. For a market to rationally price PIH on par with similar companies, full, open and transparent disclosure must be made of the upside that goes to BAM.
This would provide certainty and thus allow people to know how much upside is realistically available to PIH holders.
I suspect that the new board will soon deluge us with all sorts of fantastic promises and warm, fuzzy statements.
I am not a professional advisor. My posts contain my own opinion and speculation only. Under no circumstances should you rely upon anything I say or do not say.
BBI Price at posting:
3.6¢ Sentiment: None Disclosure: Not Held
