Street Talk can reveal that ALS approached HRL Holdings with a non-binding bid about a month ago, and should be coming out of the data room any time now with a firmer bid.
The talks sound friendly, perhaps spurred along by HRL chairman Greg Kilmister’s decade-long stint as chief executive of ALS.
If the talks were to make it all the way to a deal, sources say it would land around the $80 million mark, which would be 10 times HRL’s EBITDA for the previous financial year.