I am back. So is SGH, page-1615

They can incentivise employees to stay separately. They don't need to throw existing shareholders a bone to keep employees happy.

The underlying business will be valued on how it is currently performing and not what price D4E is done at (once the dust settles). Doesn't matter if they do D4E at $1, if the business is still shagged, it will retrace to what it's actually worth.

I strongly disagree that a hedge fund will pay more than they have to for a business thinking what they pay will determine future valuation in the long term. The share price will always meet an equilibrium based on future financial results.