Anyone have any views on this? It was a recent play of the week in Share magazine a few weeks ago. They claim it has enormous potential, possibly another Cairn

..Questor share tip: Melrose purchase is a smart reason to invest

By Garry White | Telegraph – 26 minutes ago

Melrose (LSE: MRO.L - news) 236.7p Questor says: Buy

Melrose, the industrial turnaround group, saw profits fall in the first half, but this was down to costs involved in a big acquisition.

The company has a model similar to private equity it buys struggling businesses and improves them, before selling them on at a profit.

Last week, Melrose completed the purchase of German gas and water meter group Elster. It financed the purchase through a £1.2bn rights issue. The future upside from the group is through the development of "smart meters" that can measure and control the use of basic utilities such as water and gas, saving the customer money and using less energy.

Management are convinced that there are enough synergies in the business to boost profitability to meet their targets.

In the six months to June, pre-tax profits fell to £46.3m from £58.9m on revenues that were 9pc ahead at £564.6m. However, once refinancing and M&A costs are stripped out, profit rose 16pc to £81.9m. The interim dividend was maintained at 2.6p and it will be paid on October 19.

Although the general market backdrop is tough, the company was generally upbeat. "Group order intake remains higher than revenue, giving us confidence for the second half of the year," Melrose reported.

Questor last gave an update in June, when the shares were at 370.6p. The successful rights issue provided two new Melrose ordinary shares for each existing share at 142p and the theoretical ex-rights price (Terp) based on the day before the shares traded ex-rights is 210p. With a great management team and a proven business model, Questor keeps Melrose a buy after the Elster purchase.

Unfortunately its the other Melrose.

oops!!!! Sorry about that