Entirely possible mate. But unless they convince Spheria to sell their stake for a fraction of their average, it might be difficult. They and Pinnacle both own approximately 21%.
B&L as a business was much more accomodating to a takeover. Their register was tightly controlled with Blundy and Allegro owning 15% and 65% respectively. That made it very easy to negotiate a deal.
Also this was from Feb but I thought it might be worth posting an excerpt from Spheria's (SEC) 1H2023 results;
They're adding at the lows and looking for outsized returns, specifically.
CCX Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
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