watch the xpj, page-7

Think about what will happen to the share price of most REIT's when one player takes over another.
Consolidation is a certainty in this market and Valad is definitely a target.
To be sitting on the sidelines waiting for a bottom may make you feel secure, but you will miss plenty of upside when she finally breaks.

The question is "will VPG survive" ?

I believe it is well placed to do so, and a deal could be struck at any time.