I think it comes down to what the multiple is.EMI had huge...

I think it comes down to what the multiple is.

EMI had huge growth rate and still off low base

warranted high multiples

The takeover will increase eps

but must dilute ? the growth rates and a more mature business mix

hence current valuation is being adjusted

have not looked to close at this as yet..

EMI could have had a growth rate of 100%

what EMI + Mitchel ?

Much lower ?

If so eps go up... But share price goes down

and future appreciation at a lower rate ..

In the longer term maybe very good

just some early observations.