RE:RE:What would someone pay 14c this morning?What some people are missing is that it is a binding agreement at 14 cents subject to a shareholder vote. The odds are low you'll lose anything by taking a position at 14 cents since that sp is guaranteed by PLI and the offer is backed by the TST BOD. If another offer comes for a few pennies more fine but shareholders wouldn't vote to return to a 7 cent share price. Insulting really how the same BOD whose leadership is responsible for the sp collapse now considers the offer to have a good premium for long shareholders who will lose heavily on this deal.
Commenting on this announcement, Mr. James Rae, Chairman of the Board of Directors of Telesta Therapeutics stated: "Following a very comprehensive review of multiple strategic options, Telesta's Board of Directors has unanimously endorsed the recommendation of the Special Committee of the Board of Directors to recommend to shareholders the acceptance of this purchase offer from ProMetic Life Sciences. This offer represents a significant premium to Telesta's share price since February, 2016. ProMetic Life Sciences is uniquely positioned to leverage Telesta's financial, manufacturing and human resources, while delivering to Telesta shareholders, through this payment in ProMetic shares, significant potential future upside as they bring their large therapeutic pipeline to commercial deployment."