TED- loan someone 60M and then NOT act like a starving lion on the payback aspect, OK.
DM has the biggest option ever; convert and control the vote on buy out or be paid 6XM and still convert some 8 centers...they have HI/LO covered and they will get their money back and a nice profit.
Would they convert everything if the B-O SP distribution was $1.18 a share? I doubt that. So the LO end of their HI play is $1.3- $1.4 IMO. Since everyone knows that, that forms the basis for a B-O, IMO. We work up from there and don't doubt, DM would love to see $4.50/sh for 56M shares. You don't think that goal represents alignment? OK, DM took cash for interest this qtr. to keep the books stable. To me, they want clear numbers to enable an active discussion that leads to a final deal.
I think the discussions with various parties were all over the place...it wasn't until the company clarified their cap structure and de facto control ( we already knew that) that the final discussions started to solidify, again, IMO.
I am not worried a bit about today's SP or volume or anything. You'll know its on when the volume jumps thru the roof.
