Is Admedus a takeover target?

With the shareprice stuck in a stagnant pond for long time now and value hovering around market cap $80m I am wondering why no company with big/deep pockets has expressed an interest Is the shareholder base too diverse to make this feasible?  Is there something we don't know know about real value here? I am not an expert on takeovers however I have predicted a few in past correctly. Now would seem an good moment to pick up these assets cheaply l

So whats in it for hostile takeover for another company?
1. ADAPT portfolio & infusion business for device
2. Vaccine for pharma company

Which companies?
The complexity here is there are two business in device and pharma so only one set of assets would be of interest to either party. Most companies acquire to fill in portfolio gap, acquire IP or squash the competition if they calculate that Admedus will be leading company in future

These are my favourites if there was hostile bid:

1. Edwards Baxter

Edwards are developing their own tissue and looking to get in big way in this space. why don't they buy up Admedus> they get one of best tissue engineered technologies and help build their TAVR platform. Iam curious what is stopping this rich company not acquiring. It has spent nearly $2bill onacquistions  in last 12 months. Just saw last week  an acquisition for Symetric TAVR by Boston for $435mill ( one less player now lefy)
https://www.pehub.com/2017/03/boston-scientific-to-buy-symetis-for-435-mln/#

Baxter - their vasuguard  product is suffering badly with safety,etc. Buying Admedus would get them VC and keep them in the no 1 slot

2. Merck, Actelion

I am not expert on pharma companies in the game for this. Probably would take a partnerhship deal or portfolio filling and maybe via Patersons contacts in the business.

Be good to hear from others what would happen if company with deep pockets comes with a big of money for Admedus how much would that change view of the board to appease shareholder.. At current prices i would see an offer in 40-50 cents range. all speculation however something a shareholder has to take in consider IMO