Mr Cooper Group Inc (COOP)

[boarddork]

Interesting DD! So to boil it down, the bid 'premium' was just a bonus JPM agrees to pay extra, above agreeing to buy everything it desires at book value. So, the FDIC asking price for WMB = book value + $1.9 B (the 'premium) as icing on top.

So in other words, another bidder like Citi, could've won and beat out JPM, by offering BOOK VALUE + a larger 'premium' of $2.5B (for example).

Great perspective and thanks for sharing.

Now factor in any WMI mortgage assets, and any WMBfsb assets which were not sold in the PAA........