Maybe check this thread as well on WSA - the second last post.
I cal'cd that WSA would net an extra 11.5 million in margin per annum for buying LL. If they have 160 mill cash at bank, then I imagine they could have put easily put down 40 mill as a cash deposit and financed the balance with a view to paying it off over 4 years or so. That doesn't mean they paid more but they could have without too much difficulty given WSA's net debt of about $147m. Their operational cash flow was down 44% so I imagine they didn't want to part with too much cash at present but at the same time could ill-afford to let this opportunity slip. It's a good deal for them even if they paid 100 mill. Once the dust settles I will be watching WSA closely as buy. Depending of course on what they paid.
KZL Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
