wow you guys are missing the point.after 3 failed takeover attempts, the 2 smartest distressed asset buyers in the world finally got their hands on this in feb 2014. they topped up their share holding a month ago by buying 30 mill shares at 68c. todays agm update clearly indicates that the business is in the very early stages of improvement. they have $1bn in sales and ebitda of $60 mill as at the half and very little net debt although some onerous gross debt for a few more years. and they have assembled an awesome array of new management. this turnaround is only just starting. ebitda margins running at 6%...they used to be 18%......giddyup. you don't get too many chances to invest alongside centerbridge and oaktree
BBG Price at posting:
66.5¢ Sentiment: Buy Disclosure: Held
