Business
Hefty premium, multiple, makes rival bids for Smartgroup unlikely – The Australian Financial Review
The significant premium baked into TPG Global and Potentia’s bid for payroll and novated leasing business Smartgroup is likely…
An offer from an industry player is possible; however, we also view this as unlikely given the offer price and valuation of closest peer McMillan Shakespeare (13.8 times price earnings) as an alternative.
For competition reasons, we think McMillan Shakespeare…
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