Acquisition and/or ATEN, page-12

I work in a private business that has a strong cash position for M&A activities. We have done due diligence on 53 businesses in the $2m-$20m range since 2012 and bought 2.

So we "engaged a number of business acquisition opportunities" (51 to be exact) that lead absolutely nowhere. A lot of the time businesses are for sale for a reason - the business is in a bad way.
We also ended up with 2 businesses that have added significantly to our company and enhanced our brand and profitability.

If someone from VPR walked into 2 company offices and asked if the business owner is interested in selling then they "engaged a number of business acquisition opportunities".

Boyd's job is to add value for his shareholders, not do 'stuff' for the sake of being seen to do 'stuff'. (That's for brokers and traders). I'm interested in being a value investor.