Someone, probably Blackstone buys the whole company. This will be in the best interest of all stakeholders as bondholders are made whole or somewhat close. Blackstone has shown considerable skill in negotiating with lenders(check out what happened with Hilton Worldwide and Equity Office Properties in U.S.), streamlining organization. The writedowns of RE assets in these markets are overdone. This is a tailormade takeover target. My bold prediction--CNP around $1 within 6 months.
CNP Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
