Thanks. I guess it's too broad of a question to query what sort...

Thanks. I guess it's too broad of a question to query what sort of NPAT one could expect as a general margin of EBITDA? In other words assuming a $10m cash buy at 5 x EBITDA infers a 2m EBITDA company, what could one reasonably expect for NPAT?

If all cash and no shares are issued on acquisition wouldn't any acquisition be immediately EPS accretive anyway as you would be generating additional earnings for the same number of shares anyhow. Albeit a lower cash backing price per share in the interim.