Ann: Biota and Nabi Announce Proposed Merger , page-62

NABI looks more like the one that PC described in the investor briefing: having enough cash reserve, having some promising programs under development, and also looking for a company to merge with for better market value potentials and recognition.


According to the balance sheet of NABI, as at 31 DEC 2011, the cash and cash equilavent NABI had was about U$94M. http://finance.yahoo.com/q/bs?s=NABI+Balance+Sheet&annual

That is why NABI still has the extra cash to return to its existing shareholders after the takeover.