I would have liked to be a fly on the wall for there meeting. Regal would have done there homework, which means they know WHA’s poor track record. They need to have some belief in the company as they will not have controlling interest. Surely that means some kind of significant deal/distribution agreement or similar because why else would you buy? Yes underlying assets of the company should be ~$65-90mil after B&P acquisition but a $60mil CR and poor management still give you a long way to fall.
I would have liked to be a fly on the wall for there meeting....
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