10k went in this morning. The release of the inside info is what
dropped the bottom today.
Farrallon, via options, already owns LEND's Paper.  Loanstar would own
the servicing and origination platform.
If they renog. a tender offer to about 6 a share, they would have
accomplished their plan of picking up the  company at true fire sale
price. They may have made the smart move pushing the original offer up
to 15.10 considering they already assume some of the company's bad
debt. They would owe that diff to themselves.

If the infrastructure value of LEND holds up, Lonestar would still
come out on top. They just did the same thing with the Bank of South
Korea. just keep an eye of for the big B word in LEND's future, i
think someone said earlier -one margin call would do it.then it's all
to the can.

make people think your fish are going to be fresh, take orders, sell
the whole boatload to an investor, and let someone else deliver the
rotten meat. welcome to mergers and acq.