Syncora Holdings Ltd. (fka SYCRF)

[brandemarcus]

At the risk of sounding foolish, here is a crazy line of reasoning:

1. Sycrf sells tolls roads & lawsuit for another 400 million. With combined sca & Greenpoint , that is north of 2.1 billion in claims paying resources.
Stock still less than $5.

2. Ambac or Mbi-(market caps less than 800 million )offer $10 per share in stock to buy sycrf. Transaction offers huge improvement to ambc or mbi's balance sheet and is in same line of business. Syncora shareholders actually would control more than 50% of new company.

3. Just take a look at the balance sheets of mbi or ambac and you can see why Insurance regulators should like this transaction. There is a valid business purpose for the transaction other than tax losses.

4. Strengthened balance sheets of new entity should open up new business increasing competition with Ago etc.

5. Call me crazy, I don't think those tax losses are worth 0 if this scenario happens.