Is There a Chilling Effect on M and A?

Companies that get to a certain amount of scale, and they tey, basically start running out of oxygen. If big takamine is off the table, the single biggest thing that'll change is valuations by lat stage, private, late stage ats. "If you know that you can't get a two ax mark to market from the last post, guess what'll happen to your post money? It'll go way down"