RE:RE:RE:RE:RE:Could TWM be a takeover target?TWM has an EV of ~C$1.275B right now so it's not cheap. Pioneer closing will go a long way towards re-rating TWM. Hoping June is the month, looking forwart to having this behind us.
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So post pioneer sale, the EV would be around ~$1.1B or so?
On a EV/EBITDA basis (Assuming $200M EBITDA) we're at ~5.5x EV/EBITDA -- That doens't sound too expensive?
On an EV to FCF basis (Assuming $70M - I took Q1 $17M Distributable cash * 4 and rounded up due to interest savings on reduced debt) we're at ~15.7x EV/FCF -- That doesn't sound to cheap.
Overall, to me at least, it doens't seem incredibly expensive either? Especially if we move forward to 2023 with the renewabl diesal project and the additional EBITBA and FCF that will show up from that project.
I'd happily take a $2 buyout right about now, but I could see this being a $3+ stock at the end of 2023 or so. Decent dividend to wait it out... Or am I totally out to lunch thinking $3 is doable by then?