Post by
riverrrow on Dec 12, 2021 10:29am
no phone call
I haven't received my phone call yet asking me to support the buyout. I'm guessing that enough votes in favour of the deal have been received. It's pretty rare for a buyout deal to be turned down no matter how bad it is. Ironically the original debenture holders aren't really getting 7.43 cents on the dollar like they may think they are. If the company went bankrupt that miserly 7.43 cents would add to their capital loss and mean and additional loss credit of 1.11 cents on the dollar (at a 30% tax bracket) So really the original debenture holders are only receiving around 6.32 cents on the dollar.