This could be interesting... Why does the old boy want it...

This could be interesting...
Why does the old boy want it private, rather than hand the keys over of a prime shell for rebirth??
If he takes this path of privatisation I guess he will be bound by takeover rules?... meaning, if the offer isn't good enough then he won't get enough acceptances to proceed with compulsory acquisition.
If the other directors had some drive/ spirit in them ,here's a prime opportunity