Quote Originally Posted by smokin cubans View Post
Isnt Contact fully consolidated on Origin's balance sheet anyway (ie all Contacts debt is already on Origins balance sheet)?
You are correct, however for my own analysis I reversed this out to get 19%, other wise it is around 24%. Depending how they would fund a takeover, out of debt, which increases the ratio, or equity, where their cash flows have been earmarked for other projects, the conclusion is the same.