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)
Posts
