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mojopuppy

05/18/10 8:03 AM

#89 RE: insomniac #88

why would a preferred holder accept a haircut when the face of the preferred is more than 2x covered by the assets of the companY?
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Enterprising Investor

05/18/10 8:50 AM

#90 RE: insomniac #88

A tender offer is possible.

However, not likely.

Tender offers, like the one SKRRF is attempting, is a standard MO for firms in distress. CCPC is solvent. Equity is positive. There more than enough assets to call the preferred.