Anchorage, page-2

Agree - If Anchorage get AFJ, then TNK is the perfect fit for them - TNK has a massive Victorian focus (which is the obvious hole in the AFJ portfolio; our centres look to be all performing well (with higher utilisation rates than either AFJ or GEM (if you include all the centres they own - rather than arbitrarily only include those they've owned for 12 months); our management team could quickly sort through their underperforming centres and improve the ones that need turning around...
And as you point out, if GEM misses out, then there are only a few consolation prizes available - and TNK would be the favourite.

Meanwhile the Board has just reaffirmed the Prospectus numbers meaning the stock is on a current year multiuple of 7.7 times and a yield of 8.3% (payable in 6 months time) - and we've made the first acquisitions with more on the way - each one will add to the bottom line straight away. And unlike our competitors we seem to have avoided handicapping ourselves with too many underperforming centres... Rosy picture indeed.

IMHO - Seems like little downside in TNK in this environment... but DYOR (it's not too difficult right now)