RE:newsAnd this is news to management?
I've been thinking hard about buying the bonds since the RR news broke. It never occured to me that they didn't own the bonds to hedge their equity investment. If you can buy the bond for 50 cents on the dollar, why not? If TKO can stay afloat, you win on both sides -- the stock goes up, and the bonds get paid or refinanced. If TKO doesn't stay afloat, the bonds get paid first.
Of course, the Red Kite deal threw a wrench into that plan . . . .
And one has to laugh at the implication of the conflict of interest. So TKO directors don't own any bonds, and barely own any stock to avoid a potential conflict of interest? But it's perfectly OK to sell Curis to TKO for a tidy profit while we hold the bag?
Jeez . . . .