The alternative view to the deal that RT initially agreed with Acadia (for the NA rights) is that he should have sought a higher up-front payment and (by default) lesser royalties down the track.
Before the deal was announced we had a "shit-load" of opportunists (unlike those of us who have been invested for years) who invested assuming that the up-front payment would be in the range of $50-$100m.
They've deserved to be burnt - but that meant the rest of us have suffered proportionally.
I'd like to put on record the following:
- I'm highly supportive of the original back-ended agreement - I'm pleased that Acadia's "less than acceptable" offer for the ROW rights was rejected
However, I still can't believe that Acadia has (initially) underestimated the value of the ROW opportunities and (therefore) don't believe they are out of the race.
To those who continue to criticise RT because of the short-term weakness in the SP - you'll get no sympathy from me.
NEU Price at posting:
$1.32 Sentiment: Buy Disclosure: Held
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