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Stock Market & Financial Investment News

News Breaks
November 28, 2012
09:25 EDTBBX, BXG, BFCFBBX Capital plans to participate in BFC's proposed acquisition of Bluegreen
BBX Capital Corporation (BBX) and BFC Financial Corporation (BFCF) announced that BBX Capital plans to participate in the funding of BFC's recently announced acquisition of Bluegreen Corporation (BXG). BFC, through its wholly-owned subsidiary, Woodbridge Holdings currently owns approximately 54% of Bluegreen's outstanding Common Stock and, as recently announced, has entered into an agreement with Bluegreen pursuant to which Bluegreen will merge with a subsidiary of Woodbridge and the shareholders of Bluegreen will receive $10 per share in cash. Upon consummation of the transaction, Bluegreen will become a direct wholly-owned subsidiary of Woodbridge. BBX Capital's board, after receipt of a recommendation of a special committee of independent directors, approved plans to provide equity of approximately $60M in cash to Woodbridge and to execute a promissory note in Woodbridge's favor in the principal amount of approximately $11.75M. In return, BBX will receive an approximate 46% common equity interest in Woodbridge.
News For BBX;BFCF;BXG From The Last 14 Days
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March 17, 2015
16:45 EDTBBXBBX Capital shareholder BFC intends to make tender offer for 4.8M shares
The special committee of independent directors of the board of directors of BBX Capital Corporation announced that it has been informed that its majority shareholder, BFC Financial Corporation , intends to make a tender offer to acquire up to 4,771,221 shares of the Class A common stock (including the associated preferred share purchase rights) of BBX Capital not otherwise owned by BFC at a price of $20.00 in cash per share. Presently, BFC owns approximately 51% of the outstanding shares of BBX Capital's Class A common stock. The board of directors of BBX Capital has determined that each member of the Special Committee is an independent director for purposes of considering the tender offer. The Special Committee expects to retain a financial advisor and has retained Hogan Lovells US LLP as its legal advisor.

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