Takeover, page-96

Yeah but ... don't lifetstyle companies have a habit of making an encouraging announcement before their AGM, thereby stifling dissent?

Certainly SLR have had a lot of cash sitting idly on the BS, for a long time now. With the next couple of years tax free, they will (theoretically) have near A$600m in cash, in 22 months time.

I would imagine they've had M&A offers out there, just unaccepted.

Share buybacks are considered lazy but the longer that cash sits on the BS, reflects poorly on management and their capital allocations.