What do you mean accaeric? The 1bil or so is the goodwill on...

What do you mean accaeric?

The 1bil or so is the goodwill on acquisition. Slater paid 1.3bil for Quindell's PSD. PSD only carried 300mil or so assets on their books. So therefore 1bil must be accounted for as goodwill on Slater's books.

There is nothing wrong with that if companies can justify the EBITDA to price ratio, which Slater did justify with their presentation. It is still very convincing if you read the presentation. Only problem is whether or not they are lying about the numbers. Given the weird behaviour of Slater recently, one have to doubt Slater's every number and word.