Not sure I would sell into $2.50. Cash adjusted PE for FY22 is ~17x. I think both organically and inorganically there is upside for the business well above $2.50 without any bid. I’m a hold at these levels to see how it plays out.
This will flesh out others. Without a doubt there will be teams running models on the business including PE per my previous post. Whether that results in a competing bid who knows. Either way unless they withdraw the conditional bid there is a bit of a floor under the SP, which is nice. Still a lot to go before this game ends.
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