bta board dismissed substantially higher offer, page-2

Not prepared to go into the detail here sorry...all I say is that if you hold BTA stock you should ask management or board yourself...this has been swept under the carpet and its an absolute disgrace and is a significant black mark against BTA management and their board

PS...earnings multiples against profits derived from stock piling of Relenza need to be normalised and hence BTA may not be as cheap as it looks at face value