Cheers that changes the valuation completely. Including the 587m net debt post PXA distribution brings a valuation of $4.26. The valuation of RSS and CM is strengthened by expected 10% growth in EBITDA for HY23 which will help justify the bid put on these businesses in the past.
With FS most likely being sold and proceeds go to FCA there is a nil effects which is way better than the expected liability of 500m initially proposed.
Kind of seem like a perfect storm is brewing for this company and the price isnt reacting because of its dog like status over the past two years.
It should rebounded after a few reporting periods of strong numbers.
Do your own research but other than the FS deal falling through it seems like a diamond in the rough atm.
