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Basil Read selling TWP ...

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Regular Contributor
So Share price jumps 22% on sale of TWP ... I can't understand how investor think ... pay a 22% premium to get a construction company with less debt and very little construction profit ??? makes no sense
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Super Contributor
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Super Contributor
...and the talking heads seems to agree.
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Super Contributor
Yeah..."talking heads" Basil Read has suffered from lack of liquidity (might still be the case) and this transaction positions then better (a) to meet their liabilities over the short term, and (b) take a position when Zuma's 4 trillion (trills and frills) is laid out.
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never a good sign when a company has to sell off its jewels to pay its debts. What about all those fantastic presentations that BSR was doing around PPP's etc. TWP was an integral component of all that. BSR are going to be relegated to the road building business again at this rate. Very dissapointing.
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Super Contributor
The industry gives and takes. When management fails, the industry takes its toll.
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