*The one caveat being NRF is not included because its management team likes to golf and party daily.
Isn't it great? We get to experience the joy of holding the bag like penny stock investors.
And hire the sugar manufacturer to make a deal with other lemonade stands to buy this lemonade stand for half the price of the lemons in stock.
This merger is toast. NRF and NSAM can't stand on their own two feet right now and the market is demolishing them for no apparent reason. We have seen this before when the market starts dumping risk assets.
This is the time for leadership to institute a tender offer at $13 for NRF shares.
Yes, it is nice to be American, where you can disagree no matter who is right or wrong and still BBQ with them the same day.
The crown jewel is NRF - All they need is to buy NRF and its assets. Then they can liquidate the assets and pay off the management contract and come ahead.