The press often reports a2 has 1 billion dollars in the bank to play with.Looking at page 91 of the 2024 Annual Report (Consolidated Statement of Financial Position) it reports cash at $968,943,000. But page 91 also reports trade and other payables at 347,569,000 (current liability)I think most companies would want to have cash available to pay current liabilities in case cash cash flow is interrupted.Thus I think a2 has 968 million less 347 million i.e. 621 million as "free" capital to spend. Which is less than $ 1 per share.So any acquisition has to be a very good one and meet two needs:1. Improve earnings per share2. improve supply chain.
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