I Think CTS Needs To Be Bought OutI don't know where the word "under-levered" fits in re. CTS - take a look at their balance sheet as at Sept 30, 2022 and tell me how under-levered it looks.
If the CTS Committee announces anything other than a takeout by another firm at the conclusion of their investigation into strategic alternatives, I don't think the share price will fare too well.
In my view, this company grew too fast paying too much for too many companies during boom times while accumulating too much debt along the way. If they are taken out, the question is obviously at what price per share, and will it be an all-cash deal, or will shares of the acquiring company be offered instead, or a combination of both?A deal is not done until it is formally announced by the parties involved. Until then, it's a waiting game.