Well, I personally at least wouldn’t want to see the company taken off the market for under 4 euros. Anyone can make an offer, of course, but whether it gets accepted is another story. Still, even just the launch of a takeover bid would drive up the share price.
That said, there’s probably no major risk of bids before the Ace integration is completed anyway, and my own investment thesis doesn’t rely on the buyout option at all. Personally, I’m in for at least a 2-year horizon, or until a profitability turnaround really starts showing up in the company’s figures and consequently in the stock price.
Somehow, the current profitability improvement measures, creating clear-cut business areas, cleaning up the revenue, and concentrating on major clients also sound to me like the company might be getting prepped for a sale. Becoming a so-called tighter package that would be quick and easy for a larger player to fully integrate or, for example, just snap up a specific business area. Just a gut feeling though.