Short squeeze28 Jan 2019 10:50
I don't understand why BHs wouldn't want this deal to go through to be honest.
If it doesn't, surely the company folds and the assets get flogged in a firesale with no real guarantee that the proceeds would cover the debt levels owed to the bond holders.
Seems to me, unless I'm missing something, that BHs have to push this through and get the asset sold as a 100% owned transaction for the benefit of all.
In that case, seems to me that there are a hell of a lot of short positions that will need covering if/when this acceptance is announced.