Got a $36.5m bump from Goldentree but mgmt decision to close go shop early is extremely dubious
http://scafg.gcs-web.com/news-releases/news-release-details/syncora-holdings-ltd-announces-increased-cash-purchase-price
No shareholder vote required here. And hefty $18.7m termination fee. Best bet is AGO or AMBC come in during 1 month go shop. ABV has increased by $100m since december.
What a take under - $392m or $4.51/sh when ABV is $7.88/sh and holdings only keeping $300m of NOLs. They would be better off running SGI down
http://scafg.gcs-web.com/news-releases/news-release-details/syncora-holdings-ltd-announces-agreement-sell-syncora-guarantee
Settlement for $38mm, adding ~$.44/share to NAV. Looks like they also released ~$.20/share in reserves. Now at $6.40/share NAV, hopefully we'll get some more info regarding future plans on Q3 call today. Asset value certainly
Are you sure you want to close this position SYNCORA HOLDINGS LTD?
By closing position, I’m notifying VIC Members that at today’s market price, I no longer am recommending this position.
Flag SYNCORA HOLDINGS LTD for Removal
Are you sure you want to Flag this idea SYNCORA HOLDINGS LTD for removal?
Flagging an idea indicates that the idea does not meet the standards of the club and you believe it should be removed from the site. Once a threshold has been reached the idea will be removed.
You Cannot Submit Message ... Yet
You currently do not have message posting privilages, there are
1 way you can get the privilage.
You can apply for full membership by submitting an investment idea of your own. Or if you are in reactivation status, you need to reactivate your full membership.