See how forge acquired tagart below.... Surely - given the earn...

See how forge acquired tagart below.... Surely - given the earn out, there are provisions to deal with non payment - imo previous owners will take the co back and sell again in the future.

Taggart will be on sold again leaving the contract in tact.... Even if it folds or re-negs... They can go to the next bidder or even still go to tender again... 6 weeks all up from start to Finnish to select someone... Construction start at least 6 months away... By now they would have all the detailed engineering so tenderers can probably price better and more sharply..

The upfront acquisition price of US$43 million represents a multiple of less than 3x Taggart’s forecast FY2014 EBITDA. In addition, Forge Group has entered into an earn- out arrangement with the vendors where payments of up to a maximum of US$25 million will be made if earnings milestones are met between FY2014 and FY2016. These payments are based on a 70/30 cash and scrip basis.

The upfront payment is expected to be funded through a new debt facility, which will preserve Forge Group’s strong cash position.