Microsoft Viva, page-54

Exactly right Wooster and precisely why a takeover is just not going to happen any time soon. If you apply a market darling ARR multiple, like PME or MP1, ie 25 times plus, to LVT then it’s worth $1.50 now and $2 would be justifiable. Both these comparisons have current ARR a bit above LVT and are growing a bit faster, but the comparison is still there particularly in a takeover scenario. But no company is going to pay that for LVT and Karl and Peter who combined own well over 10% can block any takeover offer they’re not happy with. And they probably want north of $5 a share, even after the disappointments of the past couple of years. In other words, it’s essentially impossible for a takeover to eventuate for at least 12 months and probably at least two years - that’s just reality. And that’s fine with me, I’d much rather give this investment time to play out for the big kill rather than settle for a small takeover premium. And by the way none of this diminishes my thoughts on Karl, I don’t trust him in the slightest and the company would definitely be best served with him no longer being a director.