It does not fit the Strategic Investment Vehicle narrative. We have to buy the company because they are an operating entity with full infrastructure and back office management needed to handle such a large transactional presence.
We are a holding company that wants to become an M&A powerhouse. Using financed debt and equity KKR wants WMIH to stay small in employees and operations but build into a large billion hold co. Leaving management and infrastructure in acquired companies to continue business as usual. While hold co absorbs revs and finances liabilities.
Using the large NOL in the offsetting of revs through the consolidated tax group will allow the companies revs and tax savings accounts to be used for future acquisitions and/or dividends to hold co shareholders.