Shares will double once strategic review is completeWhether there is a transaction or not.. I am sure new shareholders will make tons of cash at these levels..
I have run a few scenarios with a few guys and this is what might happen..
1) nothing -- Funds get a clear direction and evaluate business according to income generation.
2) outright takeover.. Leaning towards that right now cause market cap is 350 million $.. almost 2 * cash on books .. Anyone could take this out at 800 - 1 billion $ shares would double in an instant.
3) 20 million shares sold to apollo for 30 $ us a share for cash infusion of 600 million for a controlling stake . I think this is very likely as apollo has enough cash to do this ..They might be preffered shares of bonds or could be anything. This is actually a very good scenario where by CXR can make a few small buys and get back to increasing revenue and pay off Cinven ..Share price rise and they do another pp and pay down more debt.
Anything is possible. Final bid was submitted by Apollo in June and no one knows whats going on there,. We will have more clarity this week when MT appears on BNN, Lets see what happens. Looking to deploy and buy more shares after evaluation further...
Shorts need to cover big time... over 20 million shorts have to cover