This is a surprising development and reflects the lack of confidence in the value of wcl.
I was critical of the initial target statement because it did not have an independent experts valuation. It raised a red flag which was how do you value 6 rabbits down a hole?
LB are prepared to buy those rabbits sight unseen whereas nobody else is.
time to move on to the next cartoon folks an in my case that is dls and stx in the energy space.
WCL Price at posting:
39.5¢ Sentiment: None Disclosure: Held