ASL did indeed get the better deal BUT the market is volatile, ASL has better capacity to manage costs & quotes and they also pay a dividend (handy when the ASX tanks).
My back of the envelope valuation of BDL a few months ago was around the 15c mark assuming the expected new work materialises. Thus the current valuation of the stock is reasonable given the perception of some risk.
I sadly sold down about a third of my holding this morning because (I think) the market is overheated in general. The bad news for my tax is the 141% profit realised.
Anyway, no more sell downs until the BDL /ASL merged entity is revalued by the market.
Cheers
BDL Price at posting:
9.9¢ Sentiment: Hold Disclosure: Held
