Take-privates are difficult to pull off at the best of times. But when a company’s share price is languishing in the doghouse, the allure of a potential turnaround becomes hard to resist. That is doubly the case when the two buyout firms in question have already done most of the work.
This scenario is precisely where property services business Johns Lyng Group finds itself. Once a small-cap darling, Johns Lyng was one of February reporting season’s deepest underperformers, falling 31 per cent on the day it released its first-half results to a near five-year low of $2.53 per share.
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