FF
I wonder if they had previously tried to get extensions from the banks and were rejected. They then entered this rediculous refinance and recap plan to force the banks to make a move???
Also my understanding of the agreement with GSO is that the board are prevented from making solicited approaches to other parties- not unsolicited. This meaning that they are able to consider other offers from anyone but they can't go out spruiking for this.
I also wonder if there was some sort of confidentiality agreement with Blackstones during the negotiations- that's why we didn't hear anything about this process. Maybe I'm just looking for a way to forgive this non-communicative board.
PS when are you coming back in? I hope you do. All the work you have put in on this. I have had my finger on the mouse click button hovering over the "sell" so many times this year.
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