Whilst I would agree on normal circumstances I think that after having spoken with management just after the transition announcement and in December again I got the impression that there is a backed up pipeline of acquisitions that were awaiting the arrival of the new CEO. I think the Private equity move on Lifehealthcare has prompted this and that they want the cash to be able to push that pipeline through the process. It's better to have the cash to do the deals.
I think that in this case, I will trust them to deploy the money quickly.
PGC Price at posting:
76.0¢ Sentiment: None Disclosure: Held
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