I don't subscribe to the view that prices can be held down...

I don't subscribe to the view that prices can be held down "artificially" - I'm just echoing comments from others.

I completely disagree with stock lending and short selling - it turns the stockmarket into a casino rather than a place to raise capital and develop a country's economy - but that applies generally to the ASX not specifically to VLA.

When I say it doesn't matter, I mean what's the difference whether $1.75 is a 160% premium or a 50% premium to VWAP? Its a firm offer with a defined timeframe - so it forces the hand of any other suitor regardless of the notional premium.

Interested in your view, but other than "accepting an offer in lieu of a better one" how should the Board / major shareholder stimulate a bidding war?