Playing devils advocate for a minute, the willingness of management to accept the deal could be a masterstroke. If there are rival bidders then there is now some urgency for them to make their move.
There are many pharma companies in China alone who can afford the price tag and the appeal of having a Western manufacturing arm which is TGA compliant is a huge draw card and this business structure already exists successfully in the marketplace with manufactures such as Alpha Labs. There aren't that many TGA approved facilities which have the scalability of VIT.
Ann: VIT enters into Scheme Implementation Deed-VIT.AX, page-195
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