Which means the conversion structure changes.. The more who do not get a distribution, the less the conversion numbber.. i.e if you shorted this stock and do not want to cover, all you have to do is "nothing!"
Example..
1.7B outstanding. Let's say TPG who hold 870M does not want to give the releases and intends in filing a suit in the future. They are not included in the distribution.. That means only 860M is left of the commons who will be in the conversion..
We already know TPS is going to vote NO! No releases, NO! They can not be included in the conversion of their shares, that means their holdings don't count..
We have one year for them to give the releases and be counted, sfter that, they are no longer in the structure. We will see in the future how that will affect our value.
Like I said back in Nov "folks this is going to be a very interesting restructuring."
WMI2 YES!
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