Jul. 26 at 4:40 PM
$MBI regulators gonna stiff arm this into a sale probably for an underwhelming price but good for
$AGO
Why would NYDFS ever agree to let more capital to come out of National while 390 million PREPA in limbo and likely will be for at least another 12 months.
No special dividend. Management appears unwilling to buyback stock using the 70 million authorization and 350 million excess liquidity at holdco.
I would welcome a deal at
$10 -- if it included at least half in
$AGO stock to participate in upside. If it was all-stock deal, all the better. 6 million ago shares is about .12 exchange ratio and I could see AGO rallying to 100 on that deal so MBI proxy would go to 12 zone.
MBI will just burn
$60 million costs per year to do nothing but litigate PREPA which controls their entire destiny and no end in sight and limited options to do anything about it.
