Jonathan Milner, the founder and largest shareholder of Abcam Plc, sees several options beyond the 'no vote' in his opposition to the planned sale of $24 a share to Danaher.
Milner said he believes the no-vote threshold under the scheme of arrangement is 'easy to meet'.
Milner, who has a six-figure share in Abcam, said in the letter that he wants to keep Abcam's Nasdaq listing while adding back a Main Market listing on the London Stock Exchange.
Milner is not the only shareholder opposed to the $ 5.7 billion sale of Abcam to Danaher. Investor Headwaters Capital is also against the transaction, according to a CorpGov report that cites a letter to Abcam holders. The investor believes the fair value of Abcam's shares is between $35 and $39 per share.
At the time of the Abcam sale announcement in late August, CNBC's David Faber, CNBC's co-founder, said the deal price may have been hurt by antitrust concerns. Abcam said it could have been possible that rival suitor Agilent or Thermo Fisher may have come with higher possible indications of interest, though Abcam chose the Danaher deal as it would be more certain to gain antitrust approval.
Last month, Abcam CEO Alan Hirzel responded to Milner's plan to vote down the $24 per share takeover.
In June, Milner temporarily suspended his proxy sollicitation effort because the biotech firm said it would evaluate its alternatives. In June, Famed activist investor Starboard Value said it supported the company's sales effort.
On Oct. 24 Danaher is expected to release the results of Q3 results.