buyers building, page-25

If Alcon were seriously interested, then the directors could have approached them for funds, rather than go to the sophisticated investors. Alcon would have got shares for a cheap(er) average price, and then made a play for the rest on market, or made a takeover offer off market. Basically this company is in limbo at the moment. If there is any hope regarding its eye care assets its because something new has eventuated recently, which prompted a restructured deal with another party. At best IF the Royalty payments related to Alcon are $1.5M per year over 5 years (at best), and the tech alone was sold, you might be looking at a consideration of about $5-6M (with attached business risk). Save for the tech, the company has nothing in the short term to kick the price upwards, and remains an old horse grazing in a limited paddock.