Tracing out Nordion
I’m going to start this post with a short summary of why I took a position in Nordion. I tweeted the following at the beginning of January after establishing a position in the stock.
As I briefly explain in the tweet, Nordion has about $323mm of cash and another $40mm of restricted cash on their balance sheet. They have $41 million of debt. There are 61.9 million of shares outstanding. I bought the stock at a little over $10, so at an enterprise value of a little under $300 million. Read more
Reminiscences of a Stockblogger 