who says bpt not interested? better read this, page-6

BPT got ADE at an optimum moment, it was a "surprise", they had obviously lined up their number 2 shareholder, and ADE's SP was miserably low. So, BPT sprung the t/o and it was virtually over within an hour, with no opposition. They couldn't have dreamed of anything better than that.

BPT have now used up most of their cash and will soon have to rely upon their loan facility. The only way they will get more cash is with their own CR, which, they could probably pull off with all those nice numbers in their presentation and happy SHs, but, it would further dilute their SP making a scrip t/o of ICN even more dilutive.

So, with ICN's SP being as miserably low as ADE's and with ICN being FAR more attractive to BPT, the time for a scrip t/o couldn't be better.
It would have BPT with its SP at near highs, ICN's SP at near lows and with BPT's "image" vastly improved from the past, ICN SHs would probably jump at the opportunity of swapping from an inactive ICN to a VERY active and highly desirable BPT.
It certainly wouldn't take much, maybe as low as 1:5, to get at least 50% and CONTROL, which, really is still a major win for BPT. Then, IF they wanted total ownership, they would still have plenty of room to negotiate with the remaining SHs to get to 90%.

Clearly, this would all change IF ICN could come out with some "action" that would lift the SP. Will this well in 626 strike oil? Will RJ come out with some "deal" from left field, something like a white knight financier?
Lots of "possibilities" now making ICN MUCH more speculative and that should be reflected in the SP from now on. Good times for ICN shareholders!!!