As far as a non cash BO is concerned, I believe shareholders don’t need to pay taxes. We only need to pay taxes when we sell the Merck shares afterwards. Since we don’t need to pay taxes at once, I prefer this kind of BO. Since cash is not involved, I believe it is better for the acquiring company. $10 B or $20 BOs I believe is peanuts for BPs. I believe a big BP can afford it but NWBO needs to get MHRA approved first to justify the BO. If NWBO is also FDA approved, the BO amount could go up considerably. If NWBO can successfully build manufacturing capacity and the manufacturing is blessed by RAs, NWBO’s BO will go up substantially too. So I don’t believe after approval NWBO’s share prices are just $1. I also don’t believe after being approved NWBO shares prices predicted to drop. If it drops, I would plan like WB who bought CocaColas shares by truck loads in 1987. 😬