Yep. Only smart people will launch a bid based on 90 vwap.
Recent TO by MIN of AGO based on 30 day vwap almost appeared insulting.
Anyways Novomatic are a lot smarter than likes at MIN. They are seasoned in acquisitions coming from gaming industry.
Consolidation has been a theme for a long time. Tatts and TAB....
Slot machine producers also need to get bigger so they can control competition and maintain selling prices of units and stretch R&D over bigger base.
Takeover target, page-49
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