Replies to post #434399 on Mr Cooper Group Inc (COOP)

[PickStocks]

Maybe this is the setup:?--- Or like KKR Blackstone is looking to push WMIH to the side and buy for themselves

The PMI Group (PMIR) (“PMI” or the “Company”) today announced that funds affiliated with Blackstone Tactical Opportunities (“Blackstone”) have made a strategic investment in the Company.

In connection with the purchase of a significant equity stake in PMI, Blackstone has agreed to provide the Company with a loan for working capital needs in exchange for warrants and certain other rights. The Company intends to use the funds to pursue its investment strategy, which may include raising additional capital. Among other rights, Blackstone will have the right to participate in future equity offerings by the Company and is expected to nominate a director to the Board.

Timothy Graham, President and Chairman of the Board of Directors of the Company, stated, “We are delighted to announce Blackstone’s strategic investment in PMI. The Board of PMI believes Blackstone is an ideal partner for the Company as PMI pursues an investment strategy that will create significant shareholder value for all PMI shareholders.”

“Blackstone is pleased to announce its investment in PMI,” said Naveen Bhatia of Blackstone Tactical Opportunities. “Blackstone is well positioned to help the company achieve its strategic objectives and maximize value for all shareholders. We look forward to partnering with the PMI team.”

Peter J. Solomon Company is acting as financial advisor to the Company in connection with the transactions contemplated herein. Skadden, Arps, Slate, Meagher & Flom LLP is counsel to the Company. Blackstone Advisory Partners L.P. is acting as financial advisor and Weil, Gotshal & Manges LLP is counsel to Blackstone.