With all due respect kramrer, in this particular environment there are almost NO mergers happening at all. I just don't think that a cash/shell merger partner will see enough income stream off IWS to make it an attractive acquisition. Merging with IWS would make for a very risky capital proposition IMO. They have not shown an ability to generate any income since they became part of RCC.
Who knows what their debt structure might be when all the skeletons come out of the closet in DD.
You could buy all the shares of General Motors for $885 million even though they are asking for $16B from the Feds. There are no interested parties for it even though they have products which are selling daily and hold substantial assets. Looks to be going BK according to most.
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