Irrespective of letters of understanding or licences on how they operate as a company, I'm more than happy with Cardinal as i'm sure are Providence, Hares and QVT.
With reference to JKX - What were the other reasons that they did not acquire Cardinal?
QVT are holders of Cadogan stock. I know that Cadogan were keen to acquire Cardinal not many weeks ago. The fact that there are key shareholders who have wider plans could and would likely rule out any sale to JKX.
Cardinal make references to the possible warrants if there is a change in control of the company. Is a likely bid/takeover on ? There was a wider possibility that a certain company (not JKX) wanted Regals Ukraine assets (see July) but talks ended last month with Regal.
Either way, I'm confident of a marked recovery in Cardinal as time progresses and would prefer that no takeover happens at all now.
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