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BBX - BBX Capital's Privatization Of Bluegreen Vacations Has Been Impeded By Bass Pro
BBX Capital Corporation Class A
Merger consideration stands at: $16 in cash per BXG share
Current price: $15.44
Spread: 4%
Vacations ownership company Bluegreen Vacations (BXG) is getting privatized by its majority owner BBX Capital Corp. (BBX) (which owns 90%). The deal requires neither the board’s nor shareholders’ approval, and until recently, has traded with a negative spread (I didn’t find any explanation for this). Despite that, one of the main marketing partners of Bluegreen, Bass Pro, has announced that it is having some issues with the commissions payments from Bluegreen, and in case the issues