Blocking the Redomiciliation, page-3

Stopping it may prevent or delay a private equity play by Centerbridge. That's the only worthy reason to block it imo. I don't believe blocking it would be beneficial from a profitability point of view. After all there's every chance BLY could operate better in Canada. The only thing that can turn BLY around is a serious increase in drilling, so what does it matter where they are domiciled. Centerbridge would know this, therefore we must ask the question why Centrebridge have requested the Canadian domiciliation...

It is my hunch that Centerbridge are up for a private equity play. Reasons being;
- Domiciliation in Canada is a Centerbridge initiative
- BLY will not be listed on TSX.
- The special resolution to convert from a public company to a proprietary company limited.
- The fact Centerbridge got involved in the first place. Private equity plays are their core business.

They do it all the time; e.g. buyout companies and maintain an equity stake, restructure them, flip them, carve them up and sell separately, or sell assets. They're probably talking to respective bidders from industry right now. I suspect Centerbridge can do all this administratively easier in Canada, which is the reason behind the move.