RE: Identity of "interest party"
Dec 9 press release said un-named pharmaceutical company. This is not an irrelevent detail. "Pharma" is understood as being one of the 30 biggest drug makers
https://en.wikipedia.org/wiki/List_of_pharmaceutical_companies
Because of the identity of the bidder, we can infer how serious this interest is and how high they are willing to pay for TLN.
At 2$ per shares, they will get shareholders to tender offer.
This interest will turn hostile very soon if management is not cooperative.