See FID's acquisition announcement. At this rate, they should just bid for CAF.
The synergies I can think of are:
Remove ASX listing costs (direct and indirect): $250-500k
Remove the board and related misc. costs: $350-450k
Remove duplication of finance operations: $200k
Remove CEO, company secretaries and senior mgmt: $2-3 million.
Remove operational expenses: $200-500k
Those add up to $3 million or $4.6 million per annum.
On a 10x multiple, that already justifies paying a >100% premium. If Thorney could exit at $0.35, I wonder if they might accept.
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Last
41.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $82.53M | |||
| Open | High | Low | Value | Volume |
| 41.0¢ | 42.5¢ | 40.5¢ | $40.37K | 96.60K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 15447 | 41.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.5¢ | 33841 | 2 |
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| Last trade - 15.59pm 07/08/2025 (20 minute delay) ? |
| CAF (ASX) Chart |