I am not a corporate lawyer either, but it would be very hard for a board to argue a bid significantly above the recent trading range of a company is not in the shareholders interest. If the bid were to fail the board would leave themselves open to legal action from aggrieved shareholders. If the market says a company is worth $x then you need to have some very compelling reason to turn down a $2x offer.
A hostile bid from large pharma is unlikely as they just don’t tend to do this with pre-revenue companies, but a hostile bid from an investor or fund is possible.
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$1.71 |
Change
0.010(0.59%) |
Mkt cap ! $291.3M |
Open | High | Low | Value | Volume |
$1.76 | $1.79 | $1.66 | $307.6K | 176.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 615 | $1.62 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.74 | 609 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 615 | 1.620 |
1 | 12000 | 1.615 |
1 | 20000 | 1.610 |
3 | 21625 | 1.600 |
1 | 1279 | 1.555 |
Price($) | Vol. | No. |
---|---|---|
1.735 | 609 | 1 |
1.800 | 13808 | 4 |
1.820 | 4000 | 3 |
1.830 | 4000 | 1 |
1.850 | 14401 | 2 |
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