The operations will continue after the sale of all their assets, but shareholders will be wiped out and the cash received from the assets sale will be paid to creditors. thoughts on this stock? Bobcat Company Expands Zero-Turn Mower Line To 21 Models, Immunity-Boosting Silica Nanoparticles Could Replace Pesticides, Kubota Develops a Smartphone App that Streamlines Troubleshooting of Construction Machinery, Ground-Penetrating Radar May Be An Easier Alternative To Soil Sampling. There are currently 1 sell rating for the stock. NYSE Updated Aug 21, 2020 7:59 PM Briggs & Stratton Corporation has entered into a definitive stock and asset purchase agreement with KPS Capital Partners. index on US Stock Market : At Walletinvestor.com we predict future values with technical analysis for wide Stock price is not right, need update please. Briggs & Stratton said that the sooner its sale to KPS is approved, the lower the legal expenses will be for completing the bankruptcy case, which could allow unsecured creditors to recover … The Briggs is trying to recover money for engines it sold to Murray last spring. Unsecured notes are most likely too far under water to get a recovery. It may be a long time before a Ch.11 reorganization plan is filed, but it is already very clear that current BGGSQ shareholders will receive no recovery and shares will be cancelled on the plan effective date. CORP DL-,01 (BS7.F) stock discussions in Yahoo Finance's forum. *August 11: Hearing to approve bidding procedures, *August 28: Deadline for submitting qualified bids, *November 19: Sale closing (subject to extension to December 31 for antitrust approval), (There is a rather lengthy post-closing adjustment time period. ariana-ariana — In the face of being in the red today for losing -5.27%, in the last five days BGG remained trading in the green while hitting it’s week-highest on Monday, Jul 13 when the stock touched $1.17 … There could also be a bid from the ad hoc group of unsecured noteholders, but most of the time those type of plans just benefit that specific group of institutional holders of unsecured debt and not retail holders of the same notes. Like the other 2 comments, it needs to be updated. BGG Stock saw the intraday high of $2.89 and lowest of $2.50 per share. To facilitate the sale, Briggs & Stratton filed for voluntary reorganization under Chapter 11 of the United States Bankruptcy Code. At first thought the unsecured notes, which trade in a range of 8-10, might be an interesting investment, but after more in-depth analysis, it seems that unsecured noteholders will receive no recovery. Use Share your opinion and gain insight from other stock traders and investors. Short-term and long-term BGG (Briggs & Stratton Corp.) It seems to me that this site is pure gold. View analyst ratings for Briggs & Stratton or view MarketBeat's top 5 stock … Briggs & Stratton Corp. market prognosis, The stock should be sold because shareholders will receive no recovery and based on various financial figures filed with the court, it seems that unsecured notes are way under water. A high-level overview of Briggs & Stratton Corp. (BGGSQ) stock. Briggs & Stratton Corporation [BGG] is following downward trend in the market concluded with the last trading session. Ch.11 Bankruptcy Filing. The stalking horse bid by KPS Capital Partners is $550 million cash via one of their entities, Bucephalus Buyer LLC. ECHO Presents: The Powerful Fleet Program Dedicated To Landscapers. The Briggs & Stratton stock price may drop from Not within a year. The consensus among Wall Street analysts is that investors should "sell" Briggs & Stratton stock. RSI14 is 50 and the stock is currently not being overbought or oversold Red day on Friday for Briggs & Stratton Corporation stock after losing 0% (Updated on September 04, 2020) WARNING : Technical analysis is removed to prevent users from misleading information. Like the other 2 comments, it needs to be updated. It is unclear if any bidder will top the stalking horse bid. There is an ad hoc unsecured noteholder group that holds $125 million unsecured notes (64%) that could try to negotiate some type of deal, but I would not invest in the unsecured notes based on that wishful thinking. It is, therefore, very unlikely that retail unsecured noteholders will have a sympathetic ear hearing their arguments. Below you will find the stock price predictions for 2021, 2022. Briggs & Stratton Corporation stock is lower by -86.83% over the last 12 months, and the average rating from Wall Street analysts is a Sell.InvestorsObserver’s proprietary ranking system, gives BGG stock a score of 2 out of a possible 100.. That rank is influenced by a short-term technical score of 0. Term Box: Based on the financial figures filed with the court, unsecured notes are way under water. Briggs & Stratton Corp. expects its new battery line to generate $30 million in revenue in its next fiscal year and potentially 10% of sales by fiscal 2023. Will BGG price drop? How will Briggs & Stratton Corp. stock price increase? This is the same judge that approved the appalling Ch.11 reorganization plan for Peabody Energy (BTU) a few years ago. Hilarious Knock-Offs, 2021 Ford E-350, E-450 Are Too Hot To Handle, So They’re Being Recalled, STIHL Picks Up Technology Award Of Excellence. Briggs & Stratton Corp. will not exit Ch.11. Briggs & Stratton Corporation () Stock Market info Recommendations: Buy or sell Briggs & Stratton stock? Current buyers of the unsecured notes must be expecting a much higher final bid, a more robust economy in the near future, some "sweetheart" pension deal with PBGC, or a very large "gift" from a higher priority class to justify buying the notes at the current price range of 8-10. BGG stock future price, Is Briggs & Stratton Corp. a profitable investment? Sign in, Not a member? Register. Briggs & Stratton Corporation (NYSE:BGG) has a beta value of 1.6 and has seen 2,238,529 shares traded in the recent trading session. This is a well-known household name. 2021 Mid-Atlantic Nursery Trade Show Opens Its Virtual Doors, Disgruntled Ex-Mercedes-Benz Worker Goes On Incredible US$6.8 Million Wrecking Spree With Stolen JCB, USDA To Spend $70 Million in 2021 To Fight Plant Pests And Diseases, Opioid Use Hits Construction Industry as Overdoses Soar, Take a Look at the All New WRIGHT™ ZXT™ Rider, 21 for 21! You're Not Fooling Anyone! The site was born on May, 2nd, 2010 and while stays in the status of the newborn. The assets are being sold under section 363 and a "stalking horse" bidder was selected from a number of interested parties. A month before Briggs & Stratton cut its dividend, I warned that investors shouldn't own the stock. Briggs & Stratton Corp. analyst report, BGG forecast tomorrow, Will BGG price go up? thanks and go... On sbe, the first 4 have a price of 45.66. thinking of making a quick profit based on the 7 day forcast. Under that approved plan, a select group of institutional noteholders effectively received recoveries that were much larger than retail noteholders. Briggs & Stratton, a maker of small engines, generators and some outdoor products has recently declared bankruptcy after years of falling stock. Briggs & Stratton said it has obtained $677.5 million in debtor-in-possession financing, with $265 million committed by KPS and $412.5 million from a group of lenders. It looks like they were delisted for a bit, but now back and trading at pennies? In April 2019, Briggs & Stratton’s stock (US:BGG) hit a 44-year low, plunging 44.5 percent on news that it missed a dividend payment and was closing a 630-worker manufacturing plant in Kentucky. Help us improve our free forecast service with share!
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