Good on Ya Morrice for being honest. Any dill would know the price paid is cheap but for MTS, it's even better as it fits in Hand and Glove like.With synergies and buying power the Earnings Accretion Rate would be much more than 4 % and for the first time a decent opposition to Bunnings.Market to rerate MTS well Tomorrow when the Halt is lifted I reckon. What do you think will be the Open Price.
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Mr Morrice said he had spoken with shareholders and they backed this decision.
"We listened to quite a number of shareholders over recent months who wanted to ensure that we retained a very strong balance sheet but we didn't necessarily raise money only to pay it back in the dividend.
"The price we are paying and synergies we'll be able to deliver indicate we'll be able to give a very good return."
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