It is a little curious that the board did not put out market guidance for the 16FY results before revealing the bid.
I would have thought the market would have reacted strongly positive to the results, and therefore the bid premium is nowhere near as large as suggested.
However it still places VIT on a P/E of 20 so not exactly dirt cheap. It seems a fair offer.
VIT is now effectively 'in play'. If no other suitor emerges then I will be saying yes.
Gosouth
VIT Price at posting:
$2.13 Sentiment: Hold Disclosure: Held
