Replies to post #93768 on Mr Cooper Group Inc fka COOP

[ETO-Castle]

Per www.wamuequity.org it was $8 per share

[Lawrence 147]

I recall reading an article several months ago about the offer and as I recall JPM’s offer was a combination of cash and stocks. I can not recall the exact numbers but I am thinking the majority of the offer was stock and WM felt the stock was over priced and that the offer was actually around $ 6.00 per share. I could be wrong though I thought I was going to wake up a millionaire this morning.

[joe513]

It was not $8 a share. It was not really an official offer. The filings indicate that JPMC discussed a potential offer of $5 per share in an all stock deal along with a potential payment of $3 more if post acquisition the loan portfolio performed better than Wamu's projections. The offer was ridiculous and was not considered as the company had investors lining up to invest in the company. The investor group along with TPG invested $7.2 billion a few days after the bogus interest by JPMC. The board would have been hung by shareholders if they would have gone the JPMC route and shut off the chance to re capitalize the company.