@Innameonly enjoyed your post above and it shows there are deeper thinkers from a wide range of backgrounds that make this board so interesting and supportive. However one line stuck out and it crystalized an underlying lack of investment experience I've seen in many posts on the TO subject.
Are there any previous companies Neuren could model themselves on if they decided not to be taken over?
NEU cant decide not to be taken over. When an offer comes the Board can recommend against it but they cant just decide not to be taken over. As owners of the business every individual shareholder will be able to vote with their feet (or wallet in this case) and accept an offer for themselves. I'm sure you've heard the expression "hostile takeover". Of course the acquiring company would like everything to be smiles and handshakes all round but if they want it badly enough and have a big enough war chest they can get it done without management support.
The potential acquirer will approach every shareholder directly with a pitch. Some will reject it outright on the basis that the company will be worth more in the long term, some will accept money with alacrity, but others still will be persuadable by the non-financial arguments that will be made regarding the financial, staff, experience and global marketing firepower that a BP can bring to the table which will see more sufferers of more syndromes in more countries seeing the benefits of NNZ2561 sooner.
Its a powerful argument and in the end Jon and the Board might be persuaded by it.
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