I'm in agreement with the previous posters with one...

I'm in agreement with the previous posters with one exception.

The last t/o of which I had a fair degree of knowledge saw the acquirer only have 500 shares in the target company.

An acquirer needing to build up a sizeable stake in order to mount a bid is a furphy.

I'd be pretty confident that Jefferies would be receiving interest around the $60-65 mark right now. Hottod has posted previously what a t/o is typically pitched at and maybe somewhere in the range of 75%-125% could be expected for a company with significant upside.

Even a cynic would rate the upside for Neuren at far, far larger than 125%. If the next three trials produce similar results to the PMS, then (almost certainly) $60-$65 would be blown out of the water.

As someone who has been in NEU since 2010, I'd be prepared to sell my shares for $65 today, but would expect more as time goes by. I'd expect most long term holders would have not dissimilar thoughts.