With such a low premium of 4 percent to the prior day's close and the fact that there is a significant breakup fee of $225 million, it doesn't give us much comfort that investors are being protected, ... There has been a huge turnaround among the credit card issuers over the past three years, and with MBNA being acquired, there's some scarcity value for Providian. But their shareholders are not getting it.  -   Sean Egan     Quotes
With such a low premium of 4 percent to the prior day's close and the fact that there is a significant breakup fee of $225 million, it doesn't give us much comfort that investors are being protected, ... There has been a huge turnaround among the credit card issuers over the past three years, and with MBNA being acquired, there's some scarcity value for Providian. But their shareholders are not getting it. Sean Egan