- Clinton believes Sun is undervalued in the public markets;
- Clinton believes Sun has sufficient liquidity, could continue to successfully operate as a standalone business, and has access the debt markets for refinancing; but
- Clinton believes a sale today would maximize shareholder value because such a sale would likely yield Sun shareholders a price in the $6-8 range, given that the likely buyers could save substantial operating and back-office costs, trade at higher multiples, and have more scale than Sun.
Sun Healthcare Group, Inc. Should Be Sold, Says Large Institutional Investor
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