AZ there is reason KKR invested only 11 Million...UNTIL MARCH 20....Do the math on PPS purchased at time 5.5% ownership requirement. I am inclined to agree with you on the no acquisition until March 20th only because of the IRS 382 rule. Keep in mind BOD WMIH have professional accountants and auditors making sure there is no ownership change to affect NOL's and Thanks to olti. The added amount of WMMRC NOL's is another bonus.
We are investing in two things. Future and expertise of KKR.
Hmmm. If Wmih enters into and announces an acquisition between now and March 20th, which by its terms will not close until after March 20th, what color able claim would the IRS have... The fact remains no change of control happens until the deal closes and then only if the del itself involves a change of control. I don't think. IRS could argue a closing date was put further out to circumvent the restrictions this close cause in the normal course of business it takes time to get an agreement to close. So we could see announcement before March 20th depending on the type of deal, if ny. IMHO
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