I'm just a simple Rabbit and i can't work it out so someone please explain this to me.
BBG, market cap $200 million
Altamont lends it $325 million (at an exorbitant rate of 12%)
Altamont gets 40% of BBG, approx $80 million for it
if BBG tanks, Altamont loses the lot,
Altamont wouldn't take such a risk even for 12% unless they thought someone else was interested, or they know more than us (which in my case wouldn't be hard)
Please can someone tell me what i'm missing?
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