Investors sour on Nationstar deal [Seeking Alpha]
NATIONSTAR MTG (NSM)
Last nationstar mtg earnings: 7/17 07:00 am
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US:NYSE Investor Relations:
investors.nationstarholdings.com/corporateprofile
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Source: Seeking Alpha
Investors sour on Nationstar dealNationstar Mortgage (NYSE:NSM) islower by 2.05% to $16.75 after announcing a merger with WMIH Corp. (NASDAQ:WMIH) for either $18 per share in cash, or shares of WMIH.The deal is dilutive, says Piper's Kevin Barker, downgrading NSM to Underweight and cutting the price target to $13.50 from $18. He figures it will reduce book value per share to $13.09 to $16.22.There's also the addition of $826M in debt to the balance sheet, and questions over whether the DTA can be utilized quickly.Source: BloombergWMIH, by the way, isup 56.4%.Previously:WMIH Corp. finds its target in Nationstar Mortgage (Feb. 13)See all stocks on the move »Now read:No Strategy In Sight: Global Blockchain Technologies Lacks Viable Investments »
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