Refco bidders swarming for…breakup fees?

You would think that a company like Refco, seriously down on its luck right now, would look like a good buy at a miniscule percentage of its original IPO market cap. But no. Qualified bidders are backing off, and others are swarming.

Meanwhile, they are all pissing and moaning about the breakup fees. Sounds to me like the company is D E A D, dead.

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