Mr Cooper Group Inc fka COOP

[survivor Spain]

Cash is important these days.

4.4B evaporated out of JPM accounts in public can also damages severly JPM pps. Maybe even more than a dilution.

The level of dilution in an eventual buyout by merge depends on the price assigned to WMI shares.

As you wisely point out it's unlikely they can afford above $1 these days. But a dilution at $1 may be better for JPM pps than getting these 4.4B evaporated in public.

Maybe when JPM stock was at $40 it was possible something around $2 to $3 considering cash, Nol and subsidiaries plus the fact that the incremental debt they would assume is mostly a long term debt.

But now, I agree that with anything in the range $1-$2 should make us in the board very happy.

However my doubt is .. $1-$2 would make happy enough TPG and the other large holders as to accept it. Or their ego and need to recover would make it unacceptable for them ... if this is tha case ... we will have to be patient and wait..