GTC Biotherapeutics (fka GTCB)

[biopearl]

Since LFB is owned by the government, presumably, to make money, every taxpayer is a shareholder at least in some sense, correct me if I am wrong. I doubt dividends will be paid to the French masses. The addition of GTCB would add a pittance to the total income of such a company because the denominator is so huge. Yet the money to support operations is probably not significantly different over the short term to ensure survival, wholey owned or not. The incentives to GTCB management inspired by happy independent share holders would presumably be manifested differently than by the French Department of Energy and technology. Independent contracting with a small motivated company with a small denominator of shareholders might provide the incentive of independence to management and the satisfaction of serving their shareholders in an honorable fashion. Too much on call for me, John, I'll probably try to take another shot at this when more cogent, if ever that happens. bp