What about convertible debt offering? We lost 30% value in 1 week so people think this is going BK. I would rather get out of the jam now then do some restructuring down the road where I get 1 share for every 100 or some such deal. Seems like if they had a good slug of cash, the return on debt paydown and buying other select assets on the cheap could be worth it.
For discussion purposes, what if CLF decided to raise some $$ from some of its well healed friends, say $500 million. Possible convertible debt. Cash is used for buying bonds at discount and other depressed assets focused in the US. Any thoughts?