“We really only bought the contracts and the Australian operation,” he explained.
Given they are acquiring the Australian operating entity I think it’s safe to assume they’ll be inheriting some (if not all) of the accumulated losses. Otherwise you’d structure the acquisition as an asset sale not a share sale and just take an assignment of the customer contracts without risking inheriting historical company liabilities. We will find out in due course in any case.
AMX Price at posting:
$1.47 Sentiment: Hold Disclosure: Held
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