Originally Posted by
FlyingKat
Typical Bedford doubletalk. In one paragraph he says no acquisitions, then he says consolidation needs to happen. Don't see how you can say one way for the other from this letter. However I would never underestimate the ability of HK and TSH management to be so difficult to deal with that Bedford throws his hands up and walks away from the deal.
That's more believable. TSH might be very difficult to deal with.
"I have not been shy about expressing my belief that the regional market is too fragmented and could benefit from consolidation." -BB
That's something most people agree on, it's just how will consolidation happen.
So my thoughts are TSH either gets bought or falls apart/goes the way of the dinosaur. HK is getting old, and is a cheap person. My personal opinion is he'll pick the option that puts the most cash in his pockets.