Bradken down over 35% after private equity walks away....

Bradken down over 35% after private equity walks away. Shockingly, BKN management warned (at the time of the private equity approach) that they would have to raise capital to shore up their balance sheet.

When will ANG raise capital? They must be hanging by a thread! Their bankers must be sweating bullets!

On my numbers, ANG's net debt/ebitda will exceed 5x in 2015. By contrast, BKN's net debt/ebitda will hit 2.2x, yet management STILL see a reason to raise capital. And what's more, Bradken has a stronger, more resilient, more diversified business model. What is this telling you????!!!!!

30c price target.