Mr Cooper Group Inc fka COOP

[Billiam_2]

$12+ is a safe bet. Most of the legal analyst's both boards put it around $24/s. The reasoning goes like this:

1. Book value of WMI on June '08 was $26B see their 10Q.

2. Aug. '08 TPG put in almost $8B. Capital infusion.
was originally preferred stock but was converted to
commons. This is what Bondermann and the Texas lawsuit is
about.

3. Independent auditors have placed a book value on WMI of
around $52B.

4. In a court case damages could run as high as 3X bookvalue
if it goes the distance to a jury trial.

5. Our legal analyst's both boards think Weil would ask a
minimum, 2X book value for a settlement.

6. So, 2X bookvalue at low number $26B would equal $52B
settlement money. Subtract $11B to pay off other classes
of stock and that leaves $41B for commons. 41B/1.9B O/S
equals $21.5/s. End of story.

7. Interesting to note: All legal minds of both boards seem to
agree on this scenario.