There are certain people who will block the deal with small...

There are certain people who will block the deal with small stake like laura and a few who want to keep their jobs if the deal is blocked in fact alot of people I'm guessing. Even the board themselves they would lose their positions by approving the deal. Merchant however does not really care what the deal goes through for as his shares will roll over. Yeah the only people who would gain from a transaction are TPG board merchant and the institutional investors. Let's face it TPG would manage the company more successfully they current crew if they got control. It's their thing buying stressed businesses chopping them up reselling them and their assests and on occasion refloating the skeletan remains of the business, based on it's abily to turn a profit.