RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:BIRD’s view of the business It is very important to compare. It is one of the key methods of valuating an asset.
Seeing Bird fly is a further indication to me that the the business environment we are in is sound.
Excluding LSTKs, Aecon's EBITDA profit margin is the highest in the industry and post-LSTK Aecon will definitely command a higher multiple.
Aecon also has more expertise in the nuclear sector.
Aecon also owns concessions (generating today 95m EBITDA) and this provides a shield that Bird does not have.
While i respect your opinion, it makes more sense to buy back your stock when the best investment is your own company. No acquisition cost, no integration cost. Warren Buffet has always strongly supported stock buyback when the stock is below It's intrinsic value and therefore undervalued. As this enhances the value for remaining shareholders by reducing the number of shares outstanding. Buffett himself as approved significant buyback for Berkshire Hathaway in recent years particularly when he felt the stock was trading below its value.
In conclusion, I see much more price appreciation potential with Aecon.