I don''t know what the problem was. I wrote quite a long...

I don''t know what the problem was. I wrote quite a long explanation of my theory about this but I couldn't make it go through. Maybe it was TOO long? Although I didn't know there was any restiriction.

Anyway the burden of it was that I thought, from things said by Jon Pilcher, that Neuren management would prefer to get the company to carry them from running a small antipodean office the entire staff of which could gather round a large dining table to being at the helm of a medium-large North American pharma. To do that, they need to prevent a takeover.

My theory is that they have hired Jeffries to help stymie any takeover and that Jeffries will accomplish that by bringing an individual large shareholder or group of shareholders inside the tent (I mean individual in the sense of natural persons, rather than a fund, say.) They would do that with a combination of argument, duchessing, glittering word pictures of the future, and the flattery of access. They can then use that person or persons to make sure no-one can wrest the company from them.

I suspect, also, that Jeffries have found a suitable person or persons for that role.

I had a good deal more to say but that is the bones of it.

It is, of course, only a theory and I would be happy to be wrong and to hear why people think I might be. To that end, it would have been good to get the whole argument up here. Maybe I will keep trying but I have spent quite a while on this now.