Re: Anyone buying?
Do you think there is any chance that they can refinance the $620MM debt that's due in 15 months ?
If any BP buys DNDN in the next 15 months, it assumes all of its liabilities and lawsuits… at a $3.00/share buyout, that would be a $1.1B purchase… do ya think that is gonna happen ?
The only scenario that makes sense is a stalking horse pre-packaged BK… the stalking horse bids $500MM (?) for a debt-free and lawsuit-free company and the BK court solicits additional bids with a 60 (?) day deadline… the highest bidder gets a going concern business (albeit one that's burning $25MM per quarter) and the shareholders get wiped out.