Sorry for the double post.Twin, as you have pointed out before...

Sorry for the double post.

Twin, as you have pointed out before and discussed at length, a buy out of ADO looks very unlikely. Are you hinting that Philips might use Morgan Stanley as a vehicle to get onto ADO's register?

Why might they try this? If they are POC1 we know that they won't like having to rely on a minnow to succeed or for us to dictate terms/take profits from them. All hugely speculative, but if they try to buy a large stake or shape for a takeover and discover that it'll end up too expensive is there a risk they'll walk away, or would they just settle for a large chunk of shares and the influence that it would bring at board level? Similarly Alere wouldn't have the firepower/will to acquire ADO.

Given that POC1 don't seem to have a workable product without us and won't be able to bully us into submission on the markets, it might end up enhancing our position when negotiating terms on a commercial deal with them.

All very interesting, oh to be a fly on the wall in ADO, POC1 and BBI - I'm sure it'll all be clear by EOFY...