Time to off-load this Mermaid, page-65

GoldB,

I take your point, and it is a possibility (hedge fund leveraged buy-out).

not a whole lot of vol's going throu ...

we will know if they have sufficenet cash to pay the accelerated schedule by dec 31 .....

as always - its risk versus reward.

BKN:

$3.25 * 206.03 = 669.6m
net debt=301m
ebitda = 110m +/-
implied multiple = 8.8 times

applied to MRM
27c * 373.1 = 100.7m
net debt = -341m
EV = 442m
fy16 ebitda = 75.5m

multiple = 5.8 times ......

I have seen engerneering type businesses sold on 2 times multiple !!!

anyways - we shall find out within 3 weeks ......

I can wait that long - but do acknowledge your thought GB !!

shall continue to watch with interest

rgds
V_H