A cursory glance on Google AI says preliminary takeover discussions can be held without breaching material disclosure obligations particularly if the discussions are confidential, indicative, and non-binding.
I assume the parties that have already held tentative discussions with Neuren had been testing the waters to gauge where they sit regards pricing of the company or the drug itself. Seems a bit foolish to me to make a public bid not having an idea about the ball park figure Neuren has in mind i.e. someone lobs a hostile $5 billion bid based on internal estimations, then someone else who roughly knows the ball park figure lobs a knockout bid closer to the mark and Neuren accepts. The entity that makes a hostile bid would have to know there are several parties interested given the platform utility of 2591, so it would seem futile to launch an underwhelming bid when others could step in for a bidding war and outbid the entity to neuter them from the outset.
Not saying hostile bids from left of field couldn't happen, but I think with an asset like 2591 the likelihood of competition is increased. Therefore it's probably in your best interests to communicate with Neuren and glean what it would take to get over the line.
NEU Price at posting:
$10.44 Sentiment: None Disclosure: Not Held
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