Strategy, financial analysis, credit crunch, and TPI

TPI's recent strategy has been driven by acquisitions. At the end of this year TPI have to refinance about $2.7bn of debt. Given recent events in the credit market, this could prove interesting. More from Adele Ferguson here. Key quote that backs up what we keep discussing in class:

The ride has been exciting, with the share price going on a roller-coaster ride, and profits going through the roof. But analysing a company that makes a lot of acquisitions is tough, particularly one that has reclassified some of its businesses into different divisions and created new divisions.

TPI, mergers and the ACCC

TPI's corporate strategy has been growth-focused. John Durie in The Australian suggests that the ACCC would like to know about some of TPI's proposed takeovers before they are announced. As Durie suggests, though, investors "like nothing better than a company that controls its market."