stella sale, page-11

if there was a medal for mediocre financial analyis i think we have found a winner

at that EBITDA multiple they just cover the Stella debt so they'd pull out up to $100mm of equity; with around another $500mm of debt and with a financial services business that's cactus, MFS is worth about $(1.00)

probably will get more for Stella but not enough to bridge to a positive equity outcome

all the talk about relisting with upside over $1.00 is fanciful/bordering on the delusional and is the highest of high risks imaginable