Mr Cooper Group Inc (COOP)

[etzetrade]

This is my WAG that JPig wants to settle it through acquirig WMI based on your numbers. Two parties are rejected. One is FDIC and the other one is hedging funds.

It is more logic to acquire WMI. JPig really spends not much $$ to do so. In return, JPig gets cash (4B) + tax refund (5.8B) + NOL(5B) + BOLI/COLI(5B)+ releases (2000+ branches ...) + all other subs from WMI = 20B tangible and much more intangibles.

The expenses of JPig is 8B (unsecured bond holders) +3.5B(prefs) +7B (commons = $4.00/share) = less than 20B.

Hedging funds wants full payment + ALL NEW WMI. FDIC wants waterfall from tax refund to balance its sheets.