I think most people would take a blockbuster offer. However, the...

I think most people would take a blockbuster offer. However, the most obvious problem is that Australian investors do not value biotech on the same multiples as US investors. Why is a US company going to make an offer @ say $100 when you could pick it up $20 or $30 with little cash flow. Could be wrong...however Australian offers have in my view generally not seen massive premiums to share price prior to offer. A blockbuster offer will in my take longer as large Pharma is taking far more risk. They are more likely seek to work with RAC on approvals via licensing with a view to offer once they can see cash flow potential. Given the fact that Zantrene may work with a broad range of oncology drugs, an exclusive license arrangement may not be the best strategy.

I am a few years from retirement so I understand where you are coming from. However, I do see the potential for the cash flow from dividends to be greater over time than the value from the blockbuster.

Ultimately, time will tell. If either option occurs, RAC shareholders will benefit.