Total cash of $315.6m at 31 December 2017 and Vales Point half share up for sale at around $350m. Might be a long shot, but plausible....albeit not quite their MO. Having said that, they had a crack at Macquarie Power assets in 2013...
Page 12 of the half yearly results preso said that~$40m had been reserved for growth. If I was running the show I'd be looking at investing that in the growth of the business by making a US based acquisition. Even buying a marginal business would improve the US outlook, given the synergies that could be gained.
Hopefully something soon.
EPW Price at posting:
$1.44 Sentiment: Buy Disclosure: Held
