Thought provoking post @Delphi. I guess it is a possibility that a predator will come looking at these very low Covid 19 and bushfire induced share prices. However IMO the Trouchet boys see this company as their "baby" and have something to prove to the market and their holders. They would see a fair price as more of a Covid 19 look-through price and I do not think that is what the predators would see as their target figure. The idea of the partnership looks a more probable deal - especially if the partner came to the table with some working capital as incentive. The loans to equity ratio currently looks disastrous and the uncertainties around international travel at a global level look like remaining for a while yet. My opinion would be that any predator will tend to pounce on the cusp of international travel freeing up. If investors have not begun to take a look-through view then and rerated the stock the predator might sieze the opportunity - but I would say Trouchets would be hard bargainers no matter how it looks.
ATL Price at posting:
36.0¢ Sentiment: None Disclosure: Held
