I have a very bad feeling about “the deal”. My main concern now is that the Taxpayer and the general public don’t get rooted. I’m sorry for the staff.
One mystery is revealed; Goldman Sachs (aka the vampire squid) is working with Bain. That tells you where the money is from.
What I suspect has happened is that Deloittes have realised that the agreement they signed with Bain had barbed hooks all over it. They can’t back out. Bain gets to double its money even if the deal falls through (at deloittes and the creditors expense). Deloittes needs the extra time to see if they can somehow save themselves from this disaster or dress up this turd sandwich for the creditors.
I say again “what is Bains exit strategy?” no VC goes into a deal without having that decided because that’s the first question the Bain CEO asks: “how are we going to. get paid?”.
‘’The answer to that question may be rather unpleasant.