takeda , page-15

Andrew,

I think sell, is so much as merging I guess, where the other company would issue some percentage ownership in the new merged company for the PYC stake. That would allow both Paul and Tony to keep an equity stake and give them time and money to hopefully fund more research and continue PYC programs. Whether the buying company would agree to that is another story, and I don't see them getting their fat-cat salaries or being the CEO/CFO anymore, but it would be alot better then the situation which they are facing in a few months, which is when the cash is gone...its over. If they so believed in the company, must people like me would suggest they take the company private via buyout and with backing revitalize the company, and my guess is that that was their initial option, but could not find any backers to support them, or if so, didn't either of them around after the deal was done. If you keep Richard you are fine, no need for Paul or Nick.