RE:RE:RE:RE:RE:RE:Company for saleHow do we know that any institutions own stock, I would have thought they all exited long ago. What Walter thinks, wants or does is now irrelevant.
Tuscany is already too small to operate effectively as an international drilling company spread across three countries. Selling individual assets will only make matters worse and less economically viable.
The best case scenario is a sale of the entire company. A potential purchaser can buy assets or shares. If they buy assets, Tuscany shareholders will be SOL. If they buy shares there is some hope.
If I were a purchaser I would propose something like this to CS
1. I will buy everything, warts and all.
2. The lenders must convert a portion of their debt to equity in Tuscany.
3. I will acquire Tuscany in a share for share exchange (ratio to be determined)
4. Lenders will have ability to participate in upside by being shareholders in larger entity.
5. This is fair to existing shareholders so bankruprtcy judge will approve.