Post by
thenewsnake on Nov 09, 2023 2:34pm
Who still thinks a buyout is coming?
Dont think PDL would step down (he didnt get fired) if his takeover proposal had a low-chance of success. He's a smart man. Things like this aren't left to chance. He said it in black and white. If they cant agree on a price then the committe would likely still see some big asset sales in the works, if they cant find buyers for those portfolios at FMV then they are better off giving in to the low-ball PDL offer.
Comment by
ACarrothers on Nov 10, 2023 5:06am
Tend to agree. The board probably has a low ball PDL offer in hand today.. PDL is giving them time to search for a better offer that realizes more value for shareholders. If it doesn't exist then the best option becomes selling out to PDL.
Comment by
Scotch12 on Nov 10, 2023 8:15am
In my experience if a person or entity makes an offer enough people will quickly learn about it that the share price will reflect that offer. If PDL has made an offer it is close to the current share price. Management has made pathetically little progress in deleveraging this company. They should have went outside and obtained a much more competent managment team/CEO.
Comment by
thenewsnake on Nov 10, 2023 8:59am
PDL suggested Oct 3 he is going to work with the board now with his capital market specialist. I think they are working on a deal that they can sell as a big win for shareholders even if its $8 offer. If they are gettig strong interest for UK/US portfolio for top $ they may increase their bid as this helps derisk it
Comment by
BlueJay2020 on Nov 10, 2023 10:38am
Unlikely. Even PDL won't think he can get the company for $4.60 (or $4.22 as I type). Who in their right minds would accept it?
Comment by
thenewsnake on Nov 10, 2023 11:42am
if its a done deal who would be willing to risk buying a lot highier? i assume he is selling them for like $7-8 in the future maybe higher