Refer my post last night. News item revealed Bioton's intention to acquire remainder of scigen shares. Bioton already holds some 45%. Scigen have 551M shares which leaves some 300M to be acquired by Bioton. News item indicated Bioton were prepared to spend up to AUS$30M which on rough estimates indicates they are prepared to acquire SIE shares at an average price of 10c per share (figures have been rounded)?
Bioton aside, the Top 20 shareholders hold a further 20% between them (including Sonic Healthcare; JP Morgans and Merrill Lynch; Citicorp Nominees and ANZ nominees). I suspect they as other holders will not want to let go of their holdings too cheaply. Further positive announcements will only drive the price up imho.
Cheers, Pol
re:==bioton take over==
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