RE:RE:RE:Nutall's $20 price target justifiedNuttall likes the deal. He already tweeted about it. It increases shareholder returns to 50% sooner than what BTE has planned - because now they can as a bigger, more stable entity AND they increased shareholder value through an accretive acquisition. A dividend is started at least a full year before otherwise planned. The valuation is below market c/w recent deals. There is nothing to hate and everything to love about this deal.
Sometimes the market reaction doesn't make any sense, especially short term. This is one of those times.
Relaxrelax wrote: Of course Nuttall is self serving, he runs ninepoint. He's a pumper and only pumps after he's taken his positions. His silence on this deal is very telling. I can't see him liking this one bit. He's about returning FCF to shareholders. Talk of a quarterly dividend recommendation of 0.0225 after this transition gets closed on July 31 is not going to cut it for him. .09 a year dividend and starting when? He was pissed with TVE with their acquisition but accepted it and stuck with the stock. My gut says his silence says he's liquidating his position. This has now become a stock to own for stock price appreciation and not the hope that FCF shareholder returns was coming.