I think there is 0 chance of a hostile takeover. Hostile takeovers are for good companies people want, not UPL. You take over UPL, you take over $3+ billion in debt and Chapter 11, nobody is going to do that.
Nothing wrong with taking a small loss. You still have powder for your next try.
Been there, took a big loss, learned the hard way.
Yeah pink sheets.
On May 2, 2016, the New York Stock Exchange (the “NYSE”) suspended trading in the Company’s common stock at the market opening and notified the Company that its common stock is no longer suitable for listing
The Company’s common stock is expected to commence trading on the OTC Pink Marketplace under the symbol “UPLMQ” on May 3, 2016
yeah it was HTB (hard to borrow). Thing is a mess, IMO I would stay away at this point. It's worth what, 13 cents or something like that.
LGD 5 for $450mil notes due 2018
LGD5 for $850mil due 2024
meaning loss of 70-90% for the banks (2nd lowest rating)
D-PD meaning in default on all their long-term obligations (lowest rating)
Speculative Grade Liquidity Rating (ability to generate cash)
SGL-4 meaning weak liquidity, rely on external sources which is highly uncertain. (lowest rating)
This think had BK written all over it. There was an article that said with certainty it would go BK after Friday. Management was saying nothing.
Everybody lost. Not sure who wins here. Looks like the retail/common stock investors will get wiped out, but that happens after BK.
Then why is the stock halted at 13 cents, if it's worth several bucks each. Sellers/buyers are wrong, you're right?
Read this somewhere.
"equity in the company is also used to make the creditors whole, which means that usually at the end of the process new shares are issued to the creditors, and the old – still trading – shares are canceled. This is where those shares that are still trading really become a zero"