RE:Harvard Biz School case study...with emphasis on BS I agree 100%. They should have stuck to their repeatedly reiterated original game plan to buy something in the U.S. and/or Canada, and if nothing could be done there, then return the cash to shareholders.
The Investor Day Presentation, from late Sept. 2023, no longer appears on the Aimia IR website. Maybe a belated retraction?
Anyway, I can see a headline that TD lowered their price target from $5 to $4 yesterday. If anyone has access to that report please share here if possible. I still think there's at least $5 per share in NAV here (12/31/23 book value per share is $6.00), nearly double the current price, so I'm holding.
I think the earn out from PLM of $32 mil. in cash coming in Q2 will fund their cash burn for 2024. And maybe, just maybe, Paladin can scrape together the roughly $45 mil. they would need to exercise their option to buy the minimum 10% of Tufropes and Bozzetto before that option expires on May 9th.