I really like this article and the analysis - top shelf.
Reaffirms my concerns about the contractual restrictions though. I think if they can be overcome then we add significant value to any potential TO. Until then, we won’t realise full value unless someone takes Neuren and Acadia out.
My worry is that Baler Bros will do what they do and push for Acadia to be flipped for a tidy profit to big pharma who will leverage the contractual restrictions to bully/manipulate Neuren into a comparatively low ball offer that falls well short of true value.
Neuren - where to from here ?, page-33
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