$40 mil buys you a $400 asset (MSD)$40 million is a 10% downpayment on a $400 million asset ($36/share of Mosaid). If you wanted to, you could even reduce your loan by applying the $80 million cash that MSD has on-hand. That means that you only pay interest on $280 million. You sell the tester and systems business for $1 which allows you to keep all the license revenue ($60 million/year?). The loan would cost you about $20 million/year, leaving you with $40 million profit/year....100% on your investment EVERY YEAR! Another way to look at it is, you get your money back in the first year.
Funny thing is that WIN just got $40 million cash (bought deal). If they don't do it, some private fund will.