Agreed, I can't see how a TO offer won't arrive in 2024 given the gathering perfect storm of the following factors:
1. Already growing BP M&A activity on the back of an improving macro outlook.
2. BP sitting on record levels of cash which they need to deploy to build out their future pipelines.
3. Renewed BP focus on neuro drugs on the back of Leqembi and other recent successes.
4. Current BP focus on rare disease drugs.
5. Robust first P2 results for NNZ-2591 and its obvious potential in a deep basket of neurodevelopmental disorders.
Looking at comparable industry transactions, I would expect a TO offer to come in anywhere between US$5-10b equating to a SP between $75-150. This would be fairly compelling for NEU board and shareholders.
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Price($) | Vol. | No. |
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