If 8 months of TT provided $24M EBIT for their 70% holding that would imply full year TT EBIT of about $51M (ignoring seasonal effects), so the full year EBIT of the additional 15% would be approx $8M.
So I'm getting a multiple of about 8x EBIT. That seems cheap, which I guess is an indication they don't expect this momentum to be sustained.
MTS Price at posting:
$3.66 Sentiment: None Disclosure: Held
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