RE:Paying $2.40 for $3.70 seems like a no brainerWaiting for the market to give up growth valuation metrics while we trade at absurd value oriented levels is trying.
I imagine the only thing that will bail us out is either a sale or privatization.
There are plenty of high priced construction and engineering companies that could find accretive growth by buying out Mcr.
For Frank, I assume he feels that he needs to cash all the income from the backlog and place it into the balance sheet for fair value. An Aecon could offer 33 percent of a share. Grab the cash, equipment and real estate and the client relationships. We could have a dividend and another fundamentally share with a touch more diversification.