I am not a corporate lawyer either, but it would be very hard for a board to argue a bid significantly above the recent trading range of a company is not in the shareholders interest. If the bid were to fail the board would leave themselves open to legal action from aggrieved shareholders. If the market says a company is worth $x then you need to have some very compelling reason to turn down a $2x offer.
A hostile bid from large pharma is unlikely as they just don’t tend to do this with pre-revenue companies, but a hostile bid from an investor or fund is possible.
General Comments / Chat, page-10160
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Last
$1.94 |
Change
0.055(2.92%) |
Mkt cap ! $330.4M | |||
| Open | High | Low | Value | Volume |
| $1.89 | $1.96 | $1.85 | $333.0K | 174.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3105 | $1.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.95 | 7574 | 1 |
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