Catching Falling Knives at Cardno

Takeover talk is back today and the Cardno share price is up 17%. It's been on again, off again for the past few years but there seems to be something in the US business in particular that keeps the suitors interested. We've taken a few looks at it over the past 12 months and reached the conclusion that a takeover is perhaps the best hope for Cardno shareholders. The underlying business is not one we would want to own. It's no Allco, but we've seen businesses with better balance sheets than this go bust. (VIEW LINK)