Barclays downgrade: conspiracy theory...
It is my belief that IDCC will be bid on by private equity group, possibly with a strategic backer for loans, much like MOSAID.
As private equity are primarily financial buyers, they tend to NOT over pay. Barclays want to deal to get done, so they slip the downgrade in to help the BOD and Meritt look good.
Now the board gets a $65-$75 cheapo bid, they can say 'hey, Barclays valued us at $45 etc'
Or Barclays is helping the bidders (the private equity guys who they sell too all the time will be dealt the best hand over the client)
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