I was curious to see the open on this deal in case there was some rumour or scuttlebutt about the deal - but not really a surprising open.
IMD should be highly sought after. What better play on resources than exposure to the increasing intensity of drilling required per unit of resource output? Devico apparently has significantly better earnings margins than even Imdex had prior to the deal (based on the pres). So the higher multiple paid may have some in the market scratching their heads, but that would be a mistake IMO.
Imdex looks an even better business to me now. I'm glad they are focused on the right thing too. Very excited to have the impressive Devico team, products and IP joining up with Imdex.
IMD Price at posting:
$2.43 Sentiment: Buy Disclosure: Held
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