Yes the only conclusion you could draw is that it was the best funding deal they could get last year.
Or that the other offers, that excluded a funding deal, were so poor & Carlye insisted on PNC taking both. e.g funding available from a 3rd party at say 10% but the offer for the company from another bidder was $1.
Either circumstance is even less palatable now.
PNC Price at posting:
23.0¢ Sentiment: None Disclosure: Not Held
