TxSrv writes:

What other sound reason is there to buy an ongoing business?

Interest in the business.

For the pure fun of it? Just to be able to say, we own a company
which makes actual airplanes which fly. Net profit (ROIC)...who
cares.

Exactly. And some acquisitions are like that. But not with companies
like these. They have no romantic attachment to aviation, and if they
can gut Beechcraft to make more money faster, they will.

--
Transpose mxsmanic and gmail to reach me by e-mail.