Eno still at BioAmber? He's supposed to be a "Merger & Acquisitions" specialist. His reputation is on the line here. If he doesn't pull this off, then he'll never get a CEO job again: he's truly risen to his level of incompetence. & In the future, any time he does get a job will be a sign to bail from that company.
This may have been the board's mistake: replacing Luc, who was slowly bringing the company up to 100% operational status, waiting for revenues to materialize, before placing the company in deeper debt. Eno came on board, never got operational status up to 100%, yet placed BioAmber into deeper debt. Why?
Through all our DD, done by everyone on the iHub board, there has to be something missing, something we missed. What, for example, kept the Sarnia facility from reaching full capacity? Was there a technical flaw built in? The French facility provided "proof of concept." Was this scalable?
One last question: We might have expected Cargill to buy BioAmber out. (I thought this would happen.) Why didn't they? Think about it: Cargill could have become a Behemoth in the sustainable chem market. Yet they offered only $109M, which Eno found "unacceptable." WHY did Eno reject this? Might have been a good deal for all in the long run. OR WHY did Cargill give a lowball offer, when they could have offered $250M from their petty cash kitty?
Well, like I said, either Eno will pull this out, or all the stakeholders will lose bigtime. Think the Canadian Gov't will allow that to happen, especially now, with it's dispute with Saudia Arabia, which has pulled all its investment money out of Canada, expelled the Canadian ambassador, etc., just 'cause Trudeau made a #METOO comment, criticizing that status of women in Saudia Arabia? This provides a motive to keep BioAmber operational to avoid being kicked around by surviving Medieval potentates who sit on oceans of CnH2n+2. UNLESS ... unless there's a critical piece of information we're missing. What can that be?
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