Okay, let me get this straight: Carl Ichan offers WCI $22 a share, roughly $1-billion US, back in April of 2007. And WCI tells him basically to "get lost" at the time. Today, with WCI facing the possibility of defaulting on $1.8-billion in debt and the NYSE halting trading at 9:31 this morning at 66 cents a share, the company filed for bankruptcy in Delaware. It's one thing to fail but it's another to fail so spectacularly in view of everyone.
Full story here (South FL Business Journal)
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