Yes agreed the management was very bullish on the acquisition prior to ADD being withdrawn, now suddenly they are backtracking claiming it is due to recession fears in europe but I feel it is more likely that the EBIDTA margin crunch will result in reduced cashflows to finance both internal expansions and acquisitions. Also the deal was meant to be part equity and if Q2 numbers are weak the stock might crash making any find raise activity via QIP or Preferential issue much harder…
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