Crazy indeed ROE. Even a quick glance at the chart shows that nothing was needed to keep a lid on the price.
This would also not look great for GS if they go to neutral prior to a bid coming...
With that said, I've finally began buying PGH today after eyeing it for the last couple of months, for reasons you've mostly outlined already in this thread.
Trading on 6.7% yield and approx <7x EV/EBITDA looks reasonably appealing and pricing in enough downside for me.
Ann: Resignation of CEO & Managing Director, page-36
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