It seems he is preparing to retain wealth in advance of either a...

It seems he is preparing to retain wealth in advance of either a loss by all holders in number (eg a DOCA) or value of shares (merger). A merger arrangement may allocate a number of NUH shares as equivalent in value to one share of the merging partner whose current sp is such that NUH shares are as a result devalued. The deal has to be attractive/beneficial to the "rescuing" company. Whatever the outcome to share holders, it may be painful but better than zilch.