IKOU destroyed the balance sheet imo
it was done majority in cash not scrip, so gave an out.
some thoughts to consider...
“Most acquisitions go awry. Not only are the synergies to which so many executives pay lip service seldom realised; more often than not the result is catastrophic. Frequently the executives of the acquired companies leave. In their stead remains only a shell and some devalued capital equipment. More important, acquisitions, even little ones, suck up an inordinate amount of top management’s time, time taken away from the main-line business.” Tom Peters, ‘In Search of Excellence’
"Why do mergers and acquisitions carry such a high degree of risk? In almost all cases the seller, who has operated the business for years, knows much more about it and its weak spots than does the buyer." Phil Fisher
"Many acquisitions do not turn out as planned. The sellers know more than the buyers and may know of problems or uncertainties that are not apparent to the buyers." Ed Wachenheim
(20min delay)