There's a lot of fog around $NVTAQ reestructuring process following the asset's sale approval court 7th may. Through $LH (Laboratory Corp Of America Holdings) website there's more explanation about the sale than most news, where the transaction aim was explained as a purchase of selected assets and not a corporative fusion like some expected, looking forward the closing of transaction in the third quarter of 2024 (there's a lot of time ahead). It implies that shareholders won't receive options of Labcorp and will have to wait the ending of Restructuring process, being this topic one of the biggest doubts.
Remember, the chapter 11 will continue for $NVTAQ considering the statement made by ken knight "The Court's approval of our proposed sale to Labcorp is a positive step forward in our restructuring process".
This will be a long path, but current shareowners don't have any alternative besides waiting, regarding the Trade suspension order from NYSE last 6 Feb.
@eToroTeam please don't make me do your work and keep informed your users.... Show More
Indeed the sales mentioned both cash and non cash considerations. But there was no further explanation on the non cash considerations. Whether there would be any swapping of shares or any transfer of debts to LabCorp or any haircut in terms of debts to reduce the overall interests payment, etc. ... Show More
eToro wants the retailers exit their positions so that they can make money. They allotted the shares and we don’t know if it is really bought. Does shareholders have any voting rights during bankruptcy proceedings? Or can we make any obligation? No communication will be received from them. If at all... Show More
