Your opinion is correct only and only if nobody comes forward with a higher offer than Lowe's.
Lowes offer:
205M in cash + account payables(suppliers)~45M for at least 60 stores(so we are talking about ~$3.4M per store). So we are talking about an offer around ~250M for 60 stores.
If another bidder comes forward with the same avg. value per store but for let say 80 stores and the same money for the account payables(suppliers)we have the following:
80 stores x $3.4M per store= $272M in cash+ account payables= ~317M
With an offer like that preferred shares will recover something but commons still get zero!
Im betting on the prefered shares recovery but nothing for the commons. Bought last week at avg. 10-11 cents.
We have to remember that preferred shares full value is $20M($4.16 x 4.8M O/S)
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