I'll bite...
Kelsee:
though I have not publicly said so... I am suspecting perhaps two events on our horizon, one for each company... now I'm going to leave it at that...
you've said it publically now! I'd love to hear your thoughts on this. i'm trying not to have a confirmation bias here. i can see how there might be the following cases/deals:
case 1 - RVX only - postpone RVX AGM, work out details, evaluate DSMB data - "they"! :). Since RVX owes Zenith future payouts, prospecitive buyer would possibly offer net present value of royalty stream to avoid payouts for the next 10+yrs/indefinite, so postpone Zen AGM so they can vote on taking pennies on the payout-dollar. If "they" ( BP) want to purchase RVX only and keep paying out royalties to antoher co - Zen - then why postpone the Zen AGM? Postponing the Zen AGM only makes sense if they're included in the purchase of RVX and that's only the royalty stream, right?
case 2- RVX + Zen - (offers to be made for both co's) - postpone both AGM's, work out details while BoM and phase 1 are on-going. either make an offer NOW, or try to keep kicking the can down the road while hoping to get more data out of BoM and phase 1 zen-3694.
Both of these scenarious could be at play with what's happened with the AGM postponements. But, they finally got a date for AGM for both co's, so either they're still kicking tires and hammering details out OR the deal fell apart. If they're still kicking the tires they have until Nov 15th when we need to get the AGM agenda's out the door. at that point we'll know whether an offer has been made, right?
Case 3- sale of Zen only - this is the case i can't see happening. Why postpone RVX AGM if we're only interested in Zen purchase? no relationship with RVX from that perspective, Zen can be bought /cut up/ whatever with no need to discuss /vote from RVX. zen would still receive royalty stream from RVX if Zen is sold, the royalty stream is an asset to Zen. no need to postpone RVX AGM on account of this.
Other cases? other reasons?
this is driving me crazy, about 3.5 weeks to go!
volume seems to have dried up from the recent push up. it's not even following the same patterns as last year with the Hepa deal. volumes seems to remain higher than historical average right up to when the Hepa deal was announced. that's not the case here...
