My last post pretty much agreed with your sentiment - a CR would be the only way to hurry the progress of PNC and that is most unlikely given the results of the last and quite recent raise. Buyers of PNC would most likely be very predatory and offers would be probably lowball and not accepted. The last offer was by PE vultures taking advantage of a company under severe pressure from its funding source to find other lenders or payup. Even they pulled out when the financial macros changed. At the time KJ was backed into a corner and he could see the road ahead was pretty rough and I think most of the PNC holders at the time felt the same. That scenario does not exist and I would imagine KJ would be looking for much better investor sentiment than he has at the moment before looking for a suitor. The one thing that might change that is the difficulty in finding suitable PDL purchases and sources and I think we all know who the suitor will be if that happens.
PNC Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
