Oncolytics Biotech Inc T.ONC

RE:RE:Financial Times: Analysts say Pfizer moving too slow on M&A

[Noteable]

ONCY's BOD is manadated with task of determining whether any offer is sufficient enough before going to the shareholders, and as with any other corporate acquisition, multiple bids are often better than one.

And there's an old piece of nautical lore that applies here: Sailors are told to take one compass on the journey, or three.

• One compass forces you to trust what it tells you and to navigate without questioning.
• Two compasses might disagree, and then you’ll be lost, gambling on which of them is telling the truth.
• But with three compasses, the two compasses that agree will give you the confidence to ignore any wrong direction from the outlier.

The same is true with the sale process. Three or more offers are best:

• A single offer is what it is; the BOD accepts it, and the sale is complete.
• Two bids only introduce one to what a competitive process could do for the company.
• With three or more buyers involved, there then becomes a substantive offering process with multiple bids on the table. This allows one's BOD to optimize conditions for the most value of the company's business.

Multiple bids work for the company’s shareholders in a few crucial ways:

1. They drive up the final sale price.
2. They allow the shareholders and company management to have no regrets when selling.
3. They give the company and shareholders the confidence that the final sale price was a fair and equitable one.

The best move for ONCY to do is to lay out every value driver, along with every clinically trialed & potential cancer indication for ONCY's platform technology and allow multiple bidders to see, evaluate, and compete for the chance to make the company’s technology a part of their own, as ONCY seems to be doing, judging by last Friday's Q4 and full year reporting call.

https://finance.yahoo.com/news/oncolytics-biotech-reports-fourth-quarter-120000951.html