I'll admit knowing nothing about it, but like anything it can be changed and if Institutions gain majority ownership and they, working with a BP equity partner want changes, they'll happen. I don't want them to, but sometimes the tiny investor has no say in the matter at all.
The key is investors, including Institutions and equity partners, being satisfied with the growth of the company and their plans for the future. If an offer comes in at enough of a premium above the current price that Institution insist on a vote, they may be able to force it. On the other hand, the stock may rally to nearly what's offered, if so, it can easily be defeated, or a substantially higher offer may come in. While I'd like the company remaining independent with success, the reality is, something could come in that can't be refused, we'll be wealthier, and probably have a substantial tax burden. I like the ability to take stock, but it's often not offered, it wasn't in the case of the IMGN buyout.
Gary
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