SIO
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2.78% 17.5¢ simonds group limited

does anyone else have a massive problem with this...

  1. puppyeh
    122 Posts.
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    30/09/21
    12:52
    Post #: 56464267
    does anyone else have a massive problem with this transaction?

    $10mm for the entire BAA business. 2.8x LTM EV/EBITDA with the business putting up 25% margins and growing rapidly. wtf is going on? why wasnt an independent valuation done? why arent shareholders getting to vote on the deal?

    the buyer looks like a NZ private equity firm. are the Simonds family investors in that entity? why is more information not being disclosed?

    moreover why is this business being sold now? SIO has a very clean balance sheet and is not in need of cash. what is the rationale to dispose of it for a pittance, at this moment?

    either the Simonds family is fleecing shareholders; or they are going to sell/merge the homebuilding biz and they are cleaning it up for a sale.

    any thoughts?
    SIO Price at posting: 48.0¢ Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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