RE: Its back!24 Nov 2023 18:11
CKN good. But look, the pie is worth X. Clarkson have 60pc the pie, braemar maybe 20pc. Hyperthetical. For braemar to become clarkson as u suggest, they will need to either acquire the other percentages (people or firms, people take time, firms quicker but more expensive) or do it organically, which is really tough to take liquidity from a leading firm.
BMS SHOULD leverage up, issue a bond and buy up the market - a classic michael spencer move. Will they tho? No. And why? Because the management is rubbish.
So, keep clarkson, keep braemar but understand that for braemar to be clarkson as you suggested (without diversification from its core business) clarkson will have to lose market share to bms - which is highly UNLIKELY