Ann: Infigen Recommends Investors Take No Action, page-3

IFN are calling BS on the bid. It is not solid and reeks of overreach IMHO.

It has conditions that are likely to be breached in the normal course of business.

They may not have the capital on hand to buy it outright and would need debt to buy which is why they are so interested in the debt arrangements of IFN.
"It is not clear that the Proposal is fully funded. The Proposal includes conditions
relating to Infigen disclosing any change of control consequences in its debt
facilities, which may indicate that UAC does not have sufficient funding in place to
refinance Infigen’s debt, should this be required. "

They are putting tight conditions on revenue changes which is literally in the wind.
"Material Adverse Change Condition: the Proposal is also subject to a
‘material adverse change’ condition which could be triggered if any event or
circumstance, including those outside the control of Infigen, occurs which
could adversely impact Infigen’s net profit in any single year by as little as $4
million. "

It has put a nice big black line under the SP and we have a new significant holder. If they decide to sell out it might caus a dip but 60c is in the rear view mirror for the foresee-able future.