tryn2, neither a partnership, alliance nor a joint venture require shareholder approval. They would be a BOD decision. M&A does require shareholder approval, after the BOD has given their approval.
A spin-off is a corporate strategy and I see no benefits of any spin-off from NWBO businesses, that would delete rather than accrete its value. As for the C-shares, I think that a partnership is exactly what they portend...and what I expect.