Being StolenPepman wrote this:
The interest was so high from this unknown pharma, that TLN decidedafter to start a strategic review instead of striking a deal. Everdumblikes companies starting strategic reviews. He cheers for them. Then,if it does not end up in a take over, then, the so good company becomesa piece of crap with stupid management who has not been able to strikea takeover deal according to his fantasies. The reality is that realinterest or not, with it's actual valuation by the market, and it'scash melting, TLN is in a weak position to negociate any deal.
FYI, management knows the value of this company. They don't want to sell. I know if I were them, I would not sell. Selling is conceding defeat and handing out your tresor chest.
Buyer was fully aware of no intention to sell.
That's why they did the following.
1) Friendly discussion with management, which failed. You don'T know this. I do. Don't believe me by the way.
2) Unknown Pharma bidder took another move. They are forcing management to take a the deal.
Strategic review is the sole management can do to get a second bidder and increase share value. It's the only defense move.
Now, this sets the stage for a hostile takeover. After strategic review, management will be force to present results to shareholders.
Bidder is also gaining internal data in the process.
Pepman is a moron. He does know that no one goes hostile on the first attempt. You go hostile on a target when u are ready to zoom in a dying victim a defenceless target.
Management has two cards to play:
Interim results / final results to get partnership
Caprion assets
Unknown bidder has one advantage, market meltdown and profoundly undervalued stock.
Bidder will pay a very cheap amount.
idiots like pepmans are unable to see / understand anything, it's amazing.
Bottom line, this is a fast ball and someone is also trying to steal home.