The ones being done at low P/E and low P/B (some examples EJ PWRD DSKY) should get done. Would not be a problem for backers to keep them private for 5+ years.
The ones being done at high valuation (some examples AMCN QIHU) look riskier because backers will will be bleeding cash until they get some kind of exit.
Prices on some of the deals with wide spreads could be cut from the level in the "preliminary non-binding" proposals.
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