There is rising speculation that Lummus bids are coming in at acceptable levels. Whether the banks let us off the hook is another matter, but it's a positive if true.
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DD will have to sell Lummus, because the banks are forcing it. All the precious synergies will be gone (assuming they ever existed).
And the sad news is that selling Lummus still won’t raise enuf cash to save MDR. Times will be hard for many MDR employees.
Although it would allow MDR to avoid painful year(s) in bankruptcy, I don't think DD will allow Lummus to be sold. It would be admitting buying CBI was a mistake.
I bet he's mucking up a potential deal by trying to preserve his precious "synergies." Arrogance is a character flaw that often results in tragic consequences...
"Hope Saudi Aramco can purchase Lummus and bail us out." - Day dream or fantasy dream?
If Aramco wants any offshore or onshore project, they can get the best offer of lump sum bids from MDR and MDR's competitors. Why should Aramco waste their money buying MDR?
Hope Saudi Aramco can purchase Lummus and bail us out.
So no lummus sale this week
Yes, that's why the stock has suddenly risen. Word gets around.
Lummus sale will bring in about $2 billion, more or less. Barely enuf to pay back the bridge. This still leaves MDR with $4B of debt to pay back.
I’m still not seeing a company capable of paying back $4B after Lummus is sold. I think this just buys some time...
speculation? what's that worth? its the same as not knowing but guessing. as we approach milestones, one answer or the other approaches certainty. flip a coin unless you know something.
there is definitely activity on the mdr side and definitely interest by competitors. mdr is motivated to sell and the amateurs that have been running this company seem to have been pushed aside. there's reason for optimism but anything is more promising than the a– clowns that have stuffing their pockets.