RE:RE:Seems obvious to me...Agree with a lot of your comments. TWM lost their way and got way too diversified and all over the place when they're such a small player.. their ambitions was bigger than their balance sheet. But they have some really good assets that are not being priced by the market. As an example, I don't think investors in TWM had any value put for the Pipeline expansion, but Altagas specifically put a value on that one when they purchased it in their investor presentation. So are starting to see some of the value unlocked here.
Looks like they are tightening up the ship here, but I like your analogy of this being round 1. If HDRD can execute and they use the funds to pay down their debt and delever their balance sheet, I also believe we are looking at a deuce here. However, TWM is in the penalty box and so they will likely need a couple of good quarters to get there.