I suggest you re-think if Linda Powers could prevent a takeover under favorable or unfavorable conditions. If BP wants NW Bio, BP will have NW Bio. Period.
Do you know what % of shares Linda Powers owns? Last I knew NW insiders owned about 25-30% of the float. This is key and ultimately the determining factor if NW could prevent a takeover. In short they I dont think they can, and there is no "poison pill" in place that I know of for deterrence of a take-over. $500M could buy a lot of shares = become majority shareholder = force board seats. And no, it would not be market price. Hostile Takeover always pay a premium. Which puts financial investors - often funds that have to make financially sound decisions - into a bind: Trust the company grows, or take, NOW, a serious premium and invest in another company. Sometimes this goes wrong (look Yahoo and the attempted takeover from Microsoft - they rejected, TOTAL disaster). If I pay enough premium, I do not need "force", I can get enough people on the board to vote for it (because hey, I pay a premium). Is this why NW SP has been suppressed so hard? Things to ponder on this journey.
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