You are correct. As part of the new onwership. MFs will hold shares through private and IPO. When the co. re-emerges in an IPO 1 - 2 yrs later, they would do very well, 100% return in my est.
I know a lot of frustrated shareholders wouldn't mind selling at $21/sh, would you ? Speak up now or forever hold your peace.
With the high insiders' and insts' holdings, the MBO only requires 30% buy back at most for most insts will choose to stay instead of cashing out as this is a good deal for them.
590,470,000 shrs * 30% * $21/sh = $3,719,961,000
A mere $3.72 B needs to be financed. It doesn't even need to be raised for private equity will take a stake instead of going through investment bankers since this is a great bargain (very high quality deal).
S2, you won't have to wait long at all.
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