Replies to post #233056 on Mr Cooper Group Inc (COOP)

[WithCatz]

etzetrade, the purchase price is negotiable.

Catz: Is the selling price (1.0B) binding (can't change)?

(You corrected this in another post to 1.8b -- I knew what you meant)

Right out of the FDIC's mouth. The P&A is a binding document, and the price - due to litigation - can change.

http://seattle.bizjournals.com/seattle/blog/2010/08/wamu_sale_hasnt_closed_document_suggests.html

"The P and A is signed," said FDIC spokesman Andrew Gray. Extensions allow the FDIC "to settle administrative issues," he added, such as options on leases for branch offices, reconciling account balances and in some cases pending litigation.
...
Gray said. "There are other P and As that have not settled that were prior to WaMu." The FDIC has been receiver for some 250 failed banks since the financial crisis began.
WaMu "is one of 250," Gray said. "This is a very large transaction, there’s no denying that."


...Catz