I dont necessarily think it will gap up to $1 either. But i wouldnt be surprised. Went from 29c to 65c based on pure speculation.
"it looks like the offers for CAWF were awful, probably 40-50% below book value."
That based on anything? or are you just guessing? I would have thought that if they were even 20% below they wouldnt have taken the offer and taken this course of action (splitting up).
first cut analysis, page-36
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