Why would you open up any data room for them for this low ball offer.
AMA would give it a self inflicted head wound by selling off the Smart business as they would also lose a sizeable lot of revenue from ACM parts as Mark Milliner is/was at Auto Parts Group which is a competitor to AMA owned ACM. So a very good chance that would happen. So a loss of collision revenue plus a massive drop at ACM.
Even though the Smart business isn't a great margin business it is a fair chunk of the collision arm so it would be crazy to split that off when they 1 have a long term contract, 2 are changing the business to be more efficient and 3 Suncorp have agreed to a higher price for repairs.
This will smoke out any other potential bidders who want to grow their business as a Milner/Vais Smart business will shut the doors on any chance they have of getting into a working relationship with Suncorp.
If Milner/Vais want AMA they can bid for the full company at .14-15 cps.
AMA Price at posting:
6.1¢ Sentiment: Hold Disclosure: Held
