The Chinese are paying $313 mill or 14.7x forward EBITDA for VIT, based on forward EBITDA of $21 mill.
Analysts consensus expect BAL to do approx $90 mill EBITDA in 2017, which at 14.7x would price them at $1.323 bill or $13.80 a share. However, given that their EBITDA estimate is 4.5x that of VIT, we should apply at least a 10% premium on any T/O price for BAL, which would value BAL at $15.20.
We have some way to go, and bearing in mind that there is 10% currently short, and only 96 mill shares on issue, this could get really, REALLY interesting.
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