Mr Cooper Group Inc fka COOP

[joe513]

It was not $8 a share. It was not really an official offer. The filings indicate that JPMC discussed a potential offer of $5 per share in an all stock deal along with a potential payment of $3 more if post acquisition the loan portfolio performed better than Wamu's projections. The offer was ridiculous and was not considered as the company had investors lining up to invest in the company. The investor group along with TPG invested $7.2 billion a few days after the bogus interest by JPMC. The board would have been hung by shareholders if they would have gone the JPMC route and shut off the chance to re capitalize the company.