A buyout is a possibility.
It's important to remember that shareholders would need to approve this and I believe this would typically require at least 75%+ of remaining shares to approve via scheme of arrangement. So if this were to occur, it will be mutually favourable. I personally prefer to continue to hold and watch VNL continue to grow into a strong Australian bluechip with continued support from some of Australia's best. In any case, VNL shareholders are sitting in a good position imo.
VNL is in a strong position now with cashflow breakeven foreseeable. They've done enough acquisitions for scale and are primed for sustainable organic growth.
Long term this could grow into a music version of Wisetech, through growth, synergies and acquisition - it's a similar playbook. We have an impressive group of investors backing this, including the likes of Robert Millner who is another billionaire and the chair of Soul Patts.
I agree, it's a win win either way!
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