They might get, in our view, on a decent day, an enterprise value of 2.9bn to 3bn but you've got to take 2bn of debt off that.
More Quotes from Richard Ratner:
Whilst the last time it was a '24-hour wonder', we think that there may be a reasonable chance that a deal could go through this time around, but it will take time for an offer to be formulated.Richard Ratner
Justin King is doing a fine job, but he is still a long way from producing the additional 2.5 billion of sales he needs to push operating margins ahead.
Richard Ratner
We've heard there is an emergency managers meeting today.
Richard Ratner
Given the importance of Per Una to MS, it could have been disastrous had this happened at the current time. Even so, we wonder how long the agreement will last.
Richard Ratner
It's a poor (Boots) statement. The bulls will cling to the hope of a bid, but will anyone commit significant funds to buy a retailer until one thinks that the market has bottomed
Richard Ratner
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Old as she was, she still missed her daddy sometimes.
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