RE: RE: RE: RE: Strange similar feeling If management didn't undertake this option, they would likely face a lawsuit.
If management got an offer and rejected it because they felt it was too low, they would likely face a lawsuit.
Bates probably wants something close to $250 mil. if nothing else but to save face with a SP near a dollar.
Why would a buyer pay this? Why wouldn't they low ball. The assets aren't going anywhere. If the sale doesn't happen, they could just negotiate with the bondholders. Afterall, they just want $60 mil. plus profit back.
I agree with you that management will be motivated to sell. How low is the question.