Wasa, Acadia has numerous funding options available.
Exiting cash and securities is ~US$500m. There is the option of public or private sale of stock – the last public raising was for ~US$300bn in late 2018. Debt financing is another option or issuing stock as full or partial payment for any acquisition. As pointed out before, Baker Brothers are by far the largest shareholder of Acadia, and Julian Baker is also on the Acadia board. The Baker Brothers have deep pockets with their fund holding over US$22bn in assets.
So, yes, I do think Acadia could lodge a bid, if they really wanted to. But, as I already said in a post early last month, I doubt they would be willing to pay more than ~US$500m.
ACAD presentation, page-5
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