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Thursday, May 24, 2018 4:25:21 AM
The conversion ratio to WMIH is 12.7793, so for 1 NSM share (which can elect to receive $18 cash) they can receive 12.7793 shares of WMIH, which means $18 / 12.7793 = $1.408.
WMIH is currently at "only" $1.39. So why people don't buy WMIH below $1.40? Instead they pay more than the maximum of $18 cash for NSM now? I do not understand that. Are that shorts covering?!?
Could someone please explain?
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- Just my personal opinion, no investment advice! -
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