McGrath paints big red target on self

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On John McGrath from the AFR:

McGrath Estate Agents is bulking up and plans to penetrate the Melbourne market ahead of a potential $200 million initial public offering.

Street Talk understands the group, run by high-profile real estate agent John McGrath, is looking at acquiring a business with earnings of $5 to $10 million before the possible float, which has been earmarked for late October or early November. Sources said McGrath would be unlikely to pay more than 4 to 5 times earnings and does not need a deal.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.