it'll come down to how they finance, and what the EPS outlook is...

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    it'll come down to how they finance, and what the EPS outlook is for each post that.

    Organic growth, is a great thing, if you can then build further EPS in stage 2, without dilution.

    Look at the NPV jump on stages 2.

    SYA 227 -> 798m
    BGS 86 -> 638m (option 5)

    As NPV is the sum of future discounted cash flows, it should give an idea of what where each sit ahead.
 
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