IMO the independent expert report valuation surely would have come in higher then the bid offer by Pfizer. If the independent expert thought that the offer was fair value the report would have just been announced there would be no need for a trading halt! So I would be assuming that the board would likely be re-evaluating it's position and potentially re-negotiating the offer price with Pfizer north.
This is what I see now playing out
1. Pfizer stand firm with their current bid offer of 11.5 cents per share (100 million cash payment) the board then reject the offer and pfizer walk
2. They increase the offer price near or to the evaluation report price.
3. They scrap trying to take the company over and instead come up with commercial partnership agreement terms. Remembering that they are willing to spend 100 million bucks in cash!
Also we should consider the potential for further counter-offers coming through now that the company has been formally valued.
Worst case scenario Pfizer walk, ResApp do it alone, no other offer come in but the company is 4 million better off with huge international recognition...
Things are about to get hot and steamy in the kitchen ladies and gents!
Exciting times! In my opinion only!
Cheers
Red bar
RAP Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
