the new under the oldrse, page-84

im not suggesting that BAL is not a good business and would not add synergies due to the similarities as outlined earlier, but i believe bal is still overpriced and a takeover would require a premium to sp, so i dont think bkl should consider it unless the sp dropped below 8-10 despite a decent market outlook.

m&a is not without its pitfalls even when synergy potential and market overlap is high as seen recently with voc.

i think bkl mx team has enough on its plate concentrating on success in new markets rather than trying to juggle m&a as well