Unfortunately I think there is a high risk that banks will sell their debt to private equity for cents on the dollar. PE will then call in that debt and when rfg can't pay, PE will do a debt to equity swap at a massive dilution to existing shareholders, PE will pick up RFG cheap. No need for expensive take over offer and they will not have paid face value for the debt either. They will then turn it around and flog it back on the market in a few years time.
Unfortunately I think there is a high risk that banks will sell...
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