Q & M Dental Group (Singapore) Limited – Proposed acquisition and 1Q15 results
+ Q&M to buy eight dental clinics in Singapore
+ Total consideration is S$20.3 mn (Cash: S$10.85 mn, Shares: S$9.45 mn)
+ Favorable as acquisition implied P/E is 12.7x, vs Q&M's FY15F 47.7x
+ Total profit target/guarantee of S$16.1 mn over 10 years
+ Further updates after our conversation with management this morning
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