Well, it can be either or.
He thinks its a great investment and the SP does not reflect anywhere near the potential valuation. He sits along us long term holders waiting on LCBP and CHF to get approval. He ensures there are no cheap TO's in the meantime.
He thinks he can launch a TO, though not sure how he could afford that, as it will be in the multi-billions for a single investment. That would completly overshadow his existing business invesments, as far as I can see.
He can be king maker in a TO battle which he may encourage at a certain point in time and in the meantime have a strong say on how the business prioritizes its activities going forward to maximise TO value. SI is unlikely the best person for CEO once aGVHD is approved. He may like to have a strong say on that issue.
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