In this case, BIOA is now operating as a pubic company under CCAA protection. Let's say a Chinese company wants to totally buy out Bioamber with a premium bid. Who makes the initial decision? BIOA's Board of Directors, then with a judicial submission? Based on company videos posted earlier, does Canada want to give up this technology solely on the basis of money? The Board has Canadian, U.S., and European representation, and Sarnia, if I"m not mistaken is a joint venture of Mitsui. So let's say the BoD "recommends" to the judge an outcome. One would think there are several other factors to take into consideration than a pure bundle of cash: Canadian jobs; Cargill corn, with a Bioamber deal into "perpetuity", the patents and other intellectual property, including Cargill yeast, local jobs, etc., etc. Since all the bids are under seal, if the BoD "recommends" a decision to the judge, that's one thing; if the judge is privy to all the bids, he might have his own ideas. The good news is, whatever the outcome, we're gona gain. Those who sold last week may shed some tears of regret.
