The market valued KNL at 20cps when everything was fine. I personally valued it much higher. Giving away a 16% free-carried interest plus the added risk already has had a significant impact on the SP and it may get worse yet.
As for MNS, well at +50c I believe it was significantly overvalued. The fundamentals just don't support the MC imo. MNS already had the unenviable task of getting ~US$270m to fund Nachu - I believe this just got much much harder. I believe MNS is in for a very big re-rate.
I think the longer that MNS and KNL can stay in suspension the better off they'll be.
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