Paganins team of lawyers would likely disagree with you zeb I...

Paganins team of lawyers would likely disagree with you zeb
I dont think they have written off the Jefferies CN like you think and taking it over is a part of their strategy otherwise there was no point getting loan interest from it only.
Their phase 1 defined strategy was to take a cheap large chunk and assign the CN to themselves and now the phase 2 defined strategy appears to be capping or shorting the stock and keeping it low while they accumulate shares cheaply through their designated yankee INSTO allies (say Pershing &/or JPM) & await Zumwalts green light say when NP hits 6.50 again for the real bid.

These are no clowns,
they think they are better than all of us locals including Forrest & Dennis combined.
However much wealth or experience we have, they think they have much more.
They have taken the farm off us many times before for peanuts.
This is no game its a serious business and how they make massive wealth, they take assets dirt cheap screwing the local shareholders regardless of if they are aussies or cuban communists and then flip them for $Bs, they did it with ANL AGO and others. They more easily do this to their niave friends rather than their geopolitical competitors like the ruskies and chinese.

They are lining up POS as well now, the first round they were blocked by a TH & classic large dilution defence. Now the POS team need to use their arrogance and overconfidence against them and bring in their big guns and Forrests muscle & connections.

Forrest has to step in now and realise his defensive strategies with ANL AGO didnt work but did with FMG, Dilution and large yankee debt is the killer and must be avoided. The CN must be repaid in full and SP rise otherwise the "corporate action" will get hostile once NP rebounds.

Beware the friendly yankee banker who is here to help us dumb sunstricken locals who are impotent and cannot move dirt if it hit us in the face.
The black widow knows all and sees all! Dont get too close or she will eat you alive.