RE: MK Edgar Filing At first glance, it would seem MK gambled and lost. They hoped no one would make a deal at all, and Baj would go bankrupt, so they could pick it up for a dream on a fire sale, and they risked all the shares they own on this premise, instead of forking over money then and there, or making an offer.
Since Koreans made an offer, and a terrible one at that, I don't see how they have a good play left, and like the rest of the shareholders, will hurt because of it.
Of course I might be missing something, maybe even a BIG something here who knows. I have trouble thinking that crooks like MK from a Goldman Sucks background, are just going to walk away from 70 Million and did NOT have a better exit stratey than, "go down with the ship".