IMO there is still some more detail to come on this one, however for me the main questions are:
1) The ANN mentioned using existing cash stores to make the payment, but they are also doing a CR....so does this mean they are paying precision with their own $$, but now topping up via the upcoming CR? If so, it could have been worded better;
2 And as others have mentioned, Precision havent exactly been shooting the lights out - so either this deal is better for them than IMU....OR...there is a synergy here that the market (and us punters) arent made aware of yet.
Commercially I do note there will be LT advantages for manufacture and logistics - but IMO the value proposition needs to be articulated better.
Either way, interesting times - it seems IMU is in a transformational and pivotal part of their journey !!
IMO there is still some more detail to come on this one, however...
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