It will be interesting what the board does now that Saker is gone. Litigation funding is still a fundamentally lucrative business (high ROI and uncorrelated to other investments).
The problem is this value has been negotiated away to the NCI. As OBL stands today though its still a high quality "sourcer" of litigation funding assets. I can't help thinking that someone like Burford would be eyeing off the assets at the current valuation.
Buy the "sourcer" and internally finance going forward and this would be a bargain purchase for them. I cant help thinking if Burford did make an offer that Fortress or one of the other managers benefiting massively at the moment would counter-bid. ATM they don't need to bid or make a move while they can just capture the profits through structuring but I don't feel they would want to give up easily if Burford did come knocking.
OBL Price at posting:
$1.50 Sentiment: Hold Disclosure: Held
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