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HRG Group, Inc. Message Board

  • EvanMacDonald EvanMacDonald Feb 25, 2011 12:11 PM Flag

    Open Letter to Mr. Falcone

    Congrats Phil, you pulled in off! Your sketchy dealings and shaky financial position has scared everyone off, and now you can scoop up the same assets you already owned in your hedge fund on the cheap. I know you didn't benefit from the SPB stock swap yet, since you basically traded those shares for cheaper HRG stock, but now that that deal has closed and you own 93% of HRG, you can buy the rest for around $50M, giving you control of all of HRG's pool of almost half a billion in cash after the bond offering, which I've gotta believe was your goal all along since you seem like a smart guy that just needs access to capital to try to reclaim your former glory. Since you traded 27.5m shares of SPB for the majority stake in HRG and will only have to spend $50m more to reacquire the same stake plus HRG's $140m in cash and $350m in loans, I thought you might have some left over to give the little guy a break by offering at least $7 a share for the rest of the outstanding shares of HRG, since we both know its cash and stake in SPB is worth almost that, plus you get access to the capital you seem to need, so everyone wins. Thanks!

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