Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Mr. Pink who wrote (9160)	5/24/1999 2:26:00 PM
From: FESHBACH_DISCIPLE	Read Replies (3) of 18998

Mdm is in default under indenture.In bankruptcy filing for mpn in california they admited that they funneled more than 10% of assets to this unit,as well the unit has been in bankruptcy for more then 60 days another default. I hear in talks to receive between 2-3 shares per mdx and release the 450 million early to pay off debt.Since trade was put on at very low spread huge risk reward. If mdm files for bankuptcy $22 per share goes to mdx and mdm goes down to zero so you get a double whammy.Then you have the potential settlement which is another win. There are calls to put mdm the parent into bankruptcy in california. It's definetely a better play than just buying mdm.

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