AHY had an EV of about 647, so $180m is about 28% of that (after tax probably 27%). The EBITDA they are telling us about is 18m, which is about 23% of the $78m consensus EBITDA from one source. So in a very narrow sense it looks like a good deal, and also from a very necessary balance sheet derisking sense. The remaining tissue business sounds like rats and mice to me - I guess they will divest that soon.
AHY Price at posting:
62.5¢ Sentiment: None Disclosure: Not Held
