If there is a pre-emergence buyout in the works... the new owner also could utilize the 5.7 BIL in treasury stock that is sitting on the balance sheet under shareholder equity. That has to be worth something!! Since the treasury stock was bought at different times the average I read was around $40 a share at about 119MIL shares. If someone were to buyout this company before emergence and through time the stock would rise say back to the day of $40/share or more, the company could issue those shares back into circulation. It would lower the PPS at that moment but bring more value to the company in the future. This of course is just my view, but would the treasury stock be something a company consider when thinking of a buyout? 5.7BIL is a lot of money just sitting on the books.
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