Curious action in the preferred shares of MPG Office Trust (MPG.PA +3.3%) finds them trading up...

Curious action in the preferred shares of MPG Office Trust (MPG.PA +3.3%) finds them trading up to $27.89 even as the buyout agreement from BPO calls for a tender at $25 with none of the accrued dividends being paid. "The joys of investing in busted preferreds," a special situations investor laments. MPG-OLD +21.2%.