Drillsearch corporate cost right now is $35 m per year. If these are eliminated completely after merger then it would be a good outcome. Whilst at the same Beach undergoes its own corporate cost cutting. Well, finally reality hits the directors and management that the two companies must work for the benefit of its shareholders.
I could see Beach reaching $1 again in near future.
Ann: Presentation - Recommended Merger of Beach and Drillsearch, page-50
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