Worse than dead money, if they actually go through with the buy. It's suicidal. Unless they get it for face value.3 bucks and change, and then you are starting from scratch hoping Keyes can do another turnaround with the CC POS. It seems like a big detour to get back to a solvent position.
The main rub I see is that Icahn virtually guaranteed a purchase of CC, and he may be controlling BBI's moves at this point. I wonder why Cramer didn't even mention Icahn.