and they dont have fundamentals to take it higher than that and the shorts no it.
the bond guys get 100% value on the sell of the company so why would they give it Icahn at discount- the problem for equity guys a sell is worth probably 2.50-3$ so thats why the shorts are not covering and have the company is a stranglehold.
If you look at their past playbook they extract the highest value they can get from the big pharma buying. If anybody is slightly interested in buying VVUS you would do it now at low end price 2.50-3$ which is big premium from todays price- If Icahn gets involved and turns around the company if history repeats he will try to extract max upside price-who knows but got be in play now- O
Like Aqxp-had huge volume and then a filing that Baker fund took a huge stake move the stock to 20$ plus range as every short imploded. You had huge volume have too see whats behind it? You get more filing from funds then it will be interesting-
If they believed the value of these deals or would close in short term they would be buying back as much as they can instead only small amounts-they have 67 million left in the buyback until you see that drop to zero their are too many red flags.
All assets of the company are secured by the debt they are taking -how do they plan on paying down that debt? even if they do how to the plan on getting capital after that. either way you end up in same position-.
the only question is why this big player took a stake? we know nothing but he's from there and i'm sure he know's why -ha
Its pretty simple-
Only about 6% but should be on investors watchlist if he ups his stake again good luck