Nope, they don't "need BioAmber" at all. They purchased the plant, patents, and everything else that had some value for $4.34M, and that is absolutely undeniable. All the models in the world, all the valuations in the world showing what a new plant would cost, what a used plant could be worth, are irrelevant to the facts and outcome of these bankruptcy proceedings.
The plant was poorly run and a money pit. Nobody wanted the whole company, so they didn't bid. Even the two who submitted the LOI's in the SISP weren't buying the company had they chosen to bid. The liquidation happened as documented and approved in court, $4.34M for everything, and there was only 1 other bid that proposed to buy everything for $3.5M with more if the buyers could raise more capital.
None of that "efficient-market theory" has any relevance, and the only "predicament" is that BioAmber was stripped down to an empty shell company with no operations, no employees, no cash, and a massive debt still attached to it. And it isn't "the usual answers," it is what happened.
Like it or not.
I swear I’ll never use the phrase “you can’t make this stuff up” ever again after being on the OTC. Apparently you can.