M&AEverybody expects Crew to be taken over at some point. It makes a lot of sense. Someone with deep pockets could develop the land, which Crew cannot do fast enough.
Personnaly, I am greatful to have entered the stock well below $1.00. However, I am getting tired, so if it were my decision, I would be happy to sell to an acquirer.
The problem is that Dale will never be happy with the price he could get. I have a feeling he would like $20 since it got to that level in the past. Unfortunately, it will never get there again.
Right now, CR's EV/CF is about 3x. When they spend $0.5B on Groundbirch, Dale is hoping to get annual CF of $500M. Assuming it happens, and at current multiple, we are talking about a stock price of $10, assuming very little debt. If it ever gets there, Dale will still want $20. I can see 3, 4, 5, 6 years from now and nothing happened.
During that time, with the governments we have, with the green movements, I doubt stocks will trade at a multiple greater than today's.
Just my 2 cents.