"The AUD $502.4M (arguably small?) valuation..."
Well BMS are paying up to US$3.6b for just 35% of Nektar's drug, so vla are super cheap compared to that.
I'm giving it a few more weeks for a $2.25 to $2.50 offer to come through. Not sure it will, but I think it makes sense for BMS - even if it's to stop Merck getting hold of CAVATAK.
https://www.ft.com/content/00033a08-119c-11e8-8cb6-b9ccc4c4dbbb
Ann: Court approves convening of scheme meeting, page-9
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