It's a nice price, but there might be some other parts of the business to be knocked off too. The management needs to make a fist of its strategy. Otherwise we'll see some bid activity.
More Quotes from Stuart Fraser:
The U.S. has been a graveyard for U.K. retailers, so investors are a little cautious. It could be that it wants to a get a flavor for the market through a small operation and then make a massive acquisition to get instant size.Stuart Fraser
Size and leverage and balance sheets will overcome the protectionism.
Stuart Fraser
Technology is here to stay. There is long-term growth in the industry.
Stuart Fraser
We have seen quite a few people walk away from deals after the management rejects it. Interest rates are going up. Debt financing is costing more, so that's going to put a bit of pressure on what people can bid for.
Stuart Fraser
I disagree with people who think that the market got ahead of itself and that there will be a sell-off,
Stuart Fraser
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