My Chat with Bill Paterson, page-11

Preference would have to be for a business where there are operating synergies and inefficiencies that can be easily repaired. So probably in the same space. After due diligence, when determining an offer for these types of opportunities it is probably worth working on multiples of net worth to your business rather than multiples of their depressed revenue or profit.

Apparently the owner of Simple Retail must have been playing hard ball and I can perhaps understand why if he bases his valuation on potential worth to Corum rather than his recent financials. May be there is somewhere in the middle ground that will get a deal done.