Key quote (paraphrase):
"We are excited about the current and upcoming acquisition environment and see the bid/ask gap that exists in the private company sale market narrowing. We are in the unusually advantageous position of being able to deploy capital without the assistance of 3rd party financing"."
Other Comments:
- Also any acquisition will be immediately accredive to earnings.
- It is reasonable for one to think an acquisition will be done in 2009 or early 2010...
- Regarding bid/ask spread, the "ask" price is coming down either from more realistic expectations or urgency on the part of the seller.
- Expect employment trends to move to 4.5%-5% contract labor. Will have a huge effect on staffing industry
Listen to the earnings call here
CODI News 2009-8-10 General
Disclosure ("none" means no position):Long CODI
