The way things are shaping out a takeover bid will come in soon, and there are rumours circulating that it would hit sooner than one would think.
Now thought a takeover bid does sound like something good, if the losses last only another 1 or 2 quarters as the general concensus seems to feel, Radian will have a book value in the mid 30's and we can expect an offer right now between 18-19$ a share.
Now while management is bracing itself for a takeover by putting in new compensations rules if they were to be let go...they will be rewarded.
Shareholders won't be rewarded. While a short term gain of around 5 to 6$ a share does sound interesting, it looks like we will be robbed close to 12 to 15$ a share in the near future with a bid.
Management needs to put up a fight for the best possible price and high teens ain't gonna cut it.