This rumor has more legs to stand on than the rumor we heard last week. It’s the move most companies would make if they didn't agree with an assessment....simply get a favorable second opinion from a larger and more prestigious firm.
Regardless if this latest rumored action is part of the definitive purchase agreement, it has cast serious doubt about KPMG's preliminary opinion. My question is if KMPG will stick with their preliminary opinion and risk being branded in the industry as using worst case scenarios to assess businesses, or will they take a more realistic approach when they deliver their final assessment on December 11th? My guess is KPMG will provide a conditional approval based on stated assumptions to avoid a mass exodus of customers who might fear being labeled as insolvent in this recessionary economy.