CEO replaced and Board members put in place to favor TPG and their allies. Seen this before - Goldman guys will get together clean up assets and prepare company with help of their friends in private equity to sell company. Got to average down as think sale will occur this year and valuation will be $8-$10...
I figure it will take 18 months to change direction and get a fair price for this company.
A quick sale may be tempting but won't get full value.
My expectation is $12 - $14. Time will tell. Of course I have been consistently wrong
about this company so far, maybe its time for a change of luck..