and is loaded with wishful thinking, but a buyout price of $40. or more is possible. At $40. the current forward P/E would only be around 40, not crazy for a buyout candidate.With only 51 million shares outstanding that would be a little more than 2 billion. Add in the debt of about a billion and a half you would have a total price of 3.5 billion. Not entirely reasonable as a going concern, BUT the international brand recognition is possibly worth more in the right hands.Perelman would possibly even want to keep the loans, because the interest revenue is considerable. This IMHO is why he wanted to get as many of OUR shares on the sidelines with that horribly structured Preferred offer. Good luck to all longs!
I'm also scratching my head on this one. Maybe the fact that it has positive earnings for the first time, and we're in a bull market that's giving it reason to stay up this high. I continue to lose on this trade, yet I am stubborn and want to see it fall.