$10 Billion Deal, page-10327

That is probably an open ended question.

There will be a lot of "exhausted" holders who would be willing to accept a reasonable amount - and others who want somewhat more.

SP has been largely running in single digits over the last 5 years with a spike or two. A $100mil bid puts an SP of 14-15 cents. That will be attractive to some. In the end, investors will balance the bid value against the potential of BIT's compounds - will they work, how long it will take to be commercialised etc. We get the "bird in the hand" thinking happening.

A BP will get those funds from the petty cash tin. Their deals are normally in the billions. If a BP thinks there is merit in snatching up BIT - they will just take it over. Partnerships can be messy and more expensive.

Would be very interesting to see how many hold outs there would be if an offer came in for 20 cents. Not sure if the majority would reject that offer if it were to materialise.