If it is a takeover offer would it be Pfizer? They have been closely involved with the Fibrosis work. Maybe that work is looking good and if they get in cheap (eg,20c) before an announcement, they have a huge product, +++ for the buyer.
And C898, as for the CR, it was announced and acted upon so the agreements with the shareholders would have to stand. But it is only $5mil so it is chicken feed to a buyer and, as someone said, the cash raised would be available to the new owners anyway.
announcement trading halt, page-32
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