I think large tobacco companies got complacent and thought of the population smoking tobacco as a trend that will never fade and always be present for all time like other consumer staples but only in the last two or so years with the electronic cigarette exploding onto the scene, they can see that it was a mistake to not put any investment (or not enough) into R&D for their own ecig. Now, they are in a position whereby they have no capacity to manufacture, sell or even make any patent royalties from ecigs so the only option now is to snap on growth via acquisitions.
I know Dragonite seems to be strong in their position to increase their production capacity and now holding the patent, it looks like they feel primed to effectively take over the ecig market but I still think that if some large tobacco company like a Philip Morris comes around and makes them an offer, it could very easily be an offer that they cannot afford to refuse; which obviously would make any investor in DGTLF a huge windfall.
cheers
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