Board willingness7 Dec 2021 15:18
I think the board might actually be quite open to a deal actually.. maybe not in the past and they were obviously hostile to the Advent approach as JPM were brought in as NOMAD fairly soon after presumably to support on defence against further potential takeover approaches, however i think the landscape's changed quite a bit since then, most of the board makeup has changed with lots of new faces including a new chairman, and really it feels that to make the most of what Clinigen has and could eventually become, taking it out of the fast paced, short-termist listed environment and making some more sensible longer term investments might actually be a significant advantage. Given the average price since the profit warning in June has hovered around £6 and wasn't looking like it was going to go north anytime soon, an offer price of around £9 representing a 50% premium seems quite attractive.