Its an opportunistic bid below current trading levels.
No way management will go for it. Any new owner would cut management costs substantially and all the snouts in the trough would need to find a new home.
If Matt Lahood is axed which I am certain Magnolia would do by way of substantial pay reduction...then the Agency's ability to grow and add additional agents will be severely hampered.
In the end the reason management is even here is because of the uplift the could get in the value of their shareholdings once this thing starts making money. Sub $15m market cap for a business like this if they hit their targets is low IMO.
10x
Its an opportunistic bid below current trading levels.No way...
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