Chatterjee Fund Management recently bought more than 10 million shares or 5.6% of the stock. These guys own the second largest petrochemical company in India and is backed by Soros.
Well this is a decent sized bet even for a billionaire. Will there be a takeover? At the very least, they know the industry and know what's going on. A good sign that MDR will make it in one form or another, IMO.
Everyone needs to stop with the Chatterjee.......Learn how option contracts work and you would realize that Chatterjee made a bad investment decision. He wrote Put Contracts (bullish) and since the share price fell, he was contractually obligated to purchase shares at the strike price of the contract. ($6, $5, $4, $3) ........Please, just stop mentioning Chatterjee!!!
well.your wish will soon be granted
How much did it cost MDR to settle the alleged trade secret theft out of court?
Not disgraced but also not COO
He's listening to your disgraced COO also for India.
Actually, I think the play is to force the sale of Lummus. Balance sheet fixed, stock goes up, management gets rich. This guy is an industry insider, he probably knows Lummus is worth much more in someone else's hands.
The banksters are at the door, need to sell the family jewels!