yep they can certainly afford it, but my hunch, and admittedly it’s a low conviction one, is that public co shareholders after 15 years of no returns, want to see buybacks and dividends, not m&a.
a mutual is a different scenario where presumably they see the combination as a way to effectively scale and utilise their lazy balance sheet.
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yep they can certainly afford it, but my hunch, and admittedly...
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