That's a good price for a well-known house like Pilgrim. You could really get that company going again.
Poor performance hasn't tarnished the funds' image. It's still the right acquisition for the right buyer.
Putting to bed this whole question of Pilgrim's independence, and finally getting that noise behind them, probably would help those who work at Pilgrim better focus on the job they have to do.
It's an attempt to protect the little guy from himself. H&R Block is helping people become first-time savers and not really profiting from it, at least to this point. Yes, there are fees, but there are also costs associated.
Everybody works just a little bit harder. They drive their employees very hard.
While we view the acquisition favorably, we are maintaining our market perform investment rating at this time due to valuation.
