another article in australian, page-6

It's hard to say.

There are so many institutional investors in VPG still.

I would say in a normal circumstance a EBITDA multiple of 7-8 times or more.

But even in the depressed environment, if it is a 100% takeover, it should not go lower than 20c/share.

It make people feel indignant that Macabbe is not even offering that for the debt to equity deal proposed recently.

(while it is still unknown at this stage what the deal is and whether it is going to go through.)