Ripping $50 mil out of the Balance Sheet won't improve the business or its resilience. All it does is cancel out the corresponding value of the number of shares, totalling 1.305 bil. Translated: SFA, while it leaves the company vulnerable, without $50 mil cash.
There's an adage in business: deploy your capital to its best advantage and don't spend it on anything less than the maximum return it can achieve in your core activity.
So are they admitting they don't get a decent return on capital????
Or are they trying to dress the company up for a buyer?
Cannot have it both ways IMO
"
(20min delay)