Mr Cooper Group Inc (COOP)

[Tool_power]

On second thought, I'm not so sure about the new BoD members automatically joining the company as part of a new deal. Here's an excerpt from the article that Seeking Alpha ran last week. I do accept that SA could be wrong...

The stuff in BOLD below did not happen at today's meeting, as Seeking Alpha was expecting.

The Importance of WMI's Annual Meeting

"Why is WMI's annual meeting important? It clears up several matters that will then allow the company to make an acquisition. There will be an important vote to reincorporate the company from Washington to Delaware. Delaware is a preferred venue for several reasons, including more certainty and clarity for amending their bylaws and making future acquisitions. The company will also increase the size of the board from seven to 11.

The company has indicated that they then will be appointing two executive directors, William Gallagher and Thomas Fairfield, and two KKR designees, Paul Raether and Tagar Olson. Both Gallagher and Fairfield come from Capmark Financial (OTCPK:CPMK). Their specific mandate will be "developing and executing on the company's acquisition strategy."

Along with the move, WMI will dramatically increase the number of authorized shares of common and preferred stock and make it easier to raise capital."

Did the last sentence not happen either? Hmmmm...