Its not AMU specific but is relevant to the topic of buybacks. A...

Its not AMU specific but is relevant to the topic of buybacks. A snipet from Charlie Aitkins "ringing the bell" 10 Nov 2011
The following is in the context of comments about the cheap US corporate bond market atm

"Just about every Australian company that reports in US$ that we cover could embark on a US debt issueto fund a share buyback that would be heavily EPS positive. With money this cheap its almost impossible not to put it to use productively via either large scale buybacks or M&A.
With EV/EBITDA multiples the lowest we can ever remember in global cyclical stocks and corporate debt yields similairly the lowest we can remember, the combination of both will drive a massive M&A cycle. It remains far cheaper and lower real risk for boards to embark on acquisitions of existing assets..."

Its even cheaper to do it out of cashflow