Could drop to .90, but probably hang around .95 to a 1.00. I think it will be sold for 1.6 billion, and common shareholders get $1.20 p/share. You often see buyouts at a 30% premium based on a 20 day avg. share price.
I think Jurek is right about the Senior Note holders calling the shots. Their chief concern is principal payback with a decent return. And Goldman Sachs was hired to sell the company, not maximize shareholder value. Sell the co., get the commision and move on to the next deal.
The good news is when it comes to predicting share price I'm wrong most of the time.
