What’s downright bizarre and also alarming..if Zoleo really was worth it (and it has value where Beam’s share is in 10s Ms), RP could literally come in and buy the entire company for less than they would have to pay for the 50% JV. Delist, streamline all management add $Ms savings to the bottom line (BCC says they can now save 3M annually…if we were to believe it, double it for going private). We’re in seriously strange space where the business case for a takeover is so high that a fair and reasonable valuation of the company could easily be in the range of 5-10x where we are today.
And yet, I don’t see it happening (any takeover involving a fair valuation) for a multitude of reasons.
BCC Price at posting:
9.0¢ Sentiment: None Disclosure: Held
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