Vocus group, page-147

I'm not going to spend the time responding to that question. Shareholders stumped up billions in equity at higher share prices to pay for these assets. They paid top end multiples and were empire building out of fears that if they didn't buy it someone else would and they would be left sub scale. Assumptions to justify huge prices paid were bullish on both earnings, synergies and lower integration risks. The shareholder returns are disastrous let alone factoring in the fact shareholders have tipped in billions in raising a on the way up. I don't have time to explain this but have a look at precedent transactions, trading comps and other valuation metrics used for these deals and look what Vocus is trading on now. I rest my case - overpaid.