Wouldn't potential buyout offer benefit ALL shareholders including the "insiders" issuing the buyout offer, as they to ALSO OWN shares of WMIH though various compensation packages and therefore would have ample inclination to make a "fair & reasonable" offer? While they still must allow any potential buyout offer make business sense, the BoD still would like to pay themselves as handsomely as possible for their shares.... wouldn't you? Just follow the "rule of thumb" for such processes (turn down first offer to receive better sincere offer) and the buyout offer should be most optimal and realistic for shareholders - imo
PERSONALLY I do NOT think there will be any buyout offers, because the "insiders" want to make as much $$$ as possible and will want to share in the success of the company's future (at much higher pps) - imo