In today's NR it is pretty apparent that TO and the gang realized that they were not going to be able to buy Seavan under the terms outlined previously. With no support from investors, it would have been up to management and the board to pony up the cash needed. So rather than release a 'negative' NR stating that they could not come to terms with buying another pharamaceutical production facility (for the second time), a JV was agreed on instead.

The NR was good for comedic relief though. I love this quote:

"ALDA's personnel will undertake the marketing and sales of Seavan's products and services in addition to those of ALDA"

Obviously, Seavan as a company must be ailing as well to conscript Alda's "star" marketing dept.