Never forgetIt is important to remember management has mentioned book value break up many times. This would certainly be more meaningful if appraised or fair values were used as well, the company has experienced significant write downs of tangible assets two of the past three years.
In 18 months two historically profitable construction/infrastructure companies were sold, realize after the sale Enterprise is rental buiseness dependant on oil and gas and related volatility.
The last aquisition was Westar Oct 2014. The stock price has shown very little gain considering managment stresses that they are net debt free. One has to believe many good deals have come and gone over the past three years and E was unable to raise capital wihout significant dilution, an option the senior management team won't accept. Now that the Alberta economy is recovering any acquisition will certainly be at a higher valuation. Back to break up valuation, with Len acquiring is there a chance he is ready to accept a take over offer? At what valuation? I think .65 is a real and fair price.