This is where you are wrong each cent and dollar they keep on the blance sheet. The cheaper any takeover amount will be. If they offered $300M for the company it would be less any cash. Net cash on the balance sheet. Currently that is zero $50 cash and $50 debt.
$300M is PE of 10 if second half similar to first half.
Which is below the $400M of assets.
So if bid was at $500M it would only be a premium of $100M to the net assets.
$1.50 is gonna happen pretty soon before its fortunes turn.
AGI Price at posting:
82.0¢ Sentiment: Buy Disclosure: Held
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