What does SMF need $178 mil forThey are earning $33.6 mil a quarter after tax cash. They are expecting another $22 mil a quarter for the remainder of the year after tax after expenses. They should have $222 mil in the bank by year end and earning more next year.
Whoever brought that last deal to the table @ $6.95 , Jennings , CIBC and Macquarie should bring an acretive deal to the table, for there commissions and dilution of the existing shareholder. Organic growth could have been financed from existing cash and future cash flows.