Sorry if this is basic but I’m always looking to learn something, especially from my failures. Hoping someone can explain to me what happened here in regards to the company. Not why it failed etc but what are the mechanics of the deal by JPM because I’m a bit confused by it. If they “bought” it, why didn’t shareholders get a set price? IOTW, what did they buy and from whom?
And further, what if any reason would someone hold FRCB? Is there something left there? I was under the impression they don’t exist anymore.
TIA
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