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With Adolf Merckle's 25% stake currently in limbo an acquisition would make sense. However, with the CDS trading at an implied 50% chance of default within a year, and suitors will likely need to do a global recap as part of an acquisition which will need to eliminate at least half the outstanding debt for this to continue as a viable concern. Either way, the CDS should be an interesting play as it could move quite aggressively in either direction as this saga develops. Sphere: Related Content Print this post
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