Agree, GEM is no where near ABC. I just pointed out the relaxation in multiple being paid and if it started a trend it could pose a problem further down the track.
However I didn't regard Sterling as a competitor to GEM after the IPO fell over. That's because Sterling only had options to purchase it's centres and those options were conditional on Sterling getting funding (by IPO or other means). If funding was not forthcoming there would be no Sterling and the centres would have remained with the original owners. GEM has obviously made the decision to step in with the cash before the purchase options expire and pay a higher price rather than try and pick them over at a later date
GEM Price at posting:
$4.76 Sentiment: None Disclosure: Held
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