$10 Billion Deal, page-4127

Gleneagle wouldn't be stumping up cash their cash on a gamble on a random spec stock. They aren't a charity.

Biotron, without this underwriting, were headed for a world of pain, so I expect Biotron has had to give Gleneagle some assurances, otherwise Gleneagle wouldn't 'invest'. Only they know what these assurances look like.
Anyway, it's safe to say that there is a play on that will benefit Biotron management and Gleneagle.

Working backwards, the best play for Gleneagle would be picking up lots of expired options just before a big announcement and then flipping them shortly after. Free money.

Forget trying to cure the world of AIDs. Just try and figure out what the best way way to transfer money from shareholders to Gleneagle and Biotron management would be, before this whole thing comes to it's inevitable end.

If you can figure this out, then there's still life in this old dog, because, in my opinion, that's the play.

DYOR.