AbitibiBowater, Inc. (fka ABWTQ)

[SilentMinority]

In response to your "five bucks a share" comment:


Depends on how many shares are issued. Upon confirmation, old shares are wiped out and new shares are issued.

If you beleive what the article says, the implied equity value is $2.423 billion (recall this is equity value, not enterprise) calculated by dividing $206 million by 8.5% of total shares.

It doesn't matter how many shares are issued. The Debtor could issue 100 shares and give mgmt 8% which would give them $206m of value or 1,000,000 shares which still gives them $206m of value. What's important is that mgmt gets 8.5% of a $2.4 billion pie.

I hope they get hearburn.