WTF management really needed to innovate and buy some higher growth startups when it had the leverage ie when its share price was over $5.
But like most dinosaurs and professional CEO's/management teams it moved too slow, tried to focus on protecting its main business line as it was getting eaten into from increased competition and disruption.
Quite common when a big dumb company is faced with the innovators dilemma -
http://web.mit.edu/6.933/www/Fall2000/teradyne/clay.html
WTF has officially gone from the hunter to the hunted.
That said I would expect to see a 50% premium if it were to be taken over by Expedia or Priceline at current levels. It's a winner takes all market and you must have global scale, not only scale in Australia.
