Did not consider that, you are right. The stickiness comes to question if Search Associates already have the referee. Why would the teacher change as they could lose the referee - Spot on.
My reason for holding is for purely valuation reasons. They don't have to succeed, but still, you can get a decent return at these prices. I doubt they can be a dominant force as shown by the intention by Faria. They just want to get acquired.
SCL Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
