IMU as a "White Knight" would be a remote possibility but then almost half of the 2 boards have to excuse themselves due to their investments and interests in both companies.
If IMU was a sh / cornerstone investor at least we wouldn't have to worry about a sell down but it would be a burden on IMU's finances and over there a cap raising has to happen sooner or later unless they find a " White Knight ".
An all scrip IMU t/o would be the best scenario if IMU was to come to the rescue. But at what price? Hopper would hopefully apply a decent value as he would benefit a lot, $200m, about 22c. Let's say 20c, about 4 IMU shares. 1 CHM for 4 IMU, I would take the deal. IMU had 3 more pipelines but the financial problem wouldn't be solved plus the issue of another 3-4b shares. All possible but very unlikely.
It shouldn't have come to this and was easily avoidable. Deliberately, maybe, maybe not. But the way he's done it looked that way and the sp confirms it.
RAD was on the same way falling over and the rescue package looked great but looking at RAD today, again mid 2c instead 5c. Fully cashed up, validated by Lantheus and yet, someone is happy to sell it down as low as possible.
One can only hope that, whatever he comes up with, won't have the same effect here. The clinical results have exceeded expectations - so we have been told - but the sp seems to be indirect proportional to that. We expected a graph like y=x^n but what we've got is more y=1/x^n. And should x=0, OMG.
GLTA
CHM Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held
