Abcam Plc (NASDAQ: ABCM) founder and major shareholder Jonathan Milner is currently exploring various options following the company’s proposed acquisition by Danaher (NYSE: DHR) at $24 per share.

Milner believes that the threshold for voting against the acquisition is easily achievable under the current arrangement scheme, as mentioned in an interview with Dealreporter. In a letter to shareholders, Milner expressed his concerns about accepting $24 per share at this time, pointing out that the deal is not expected to close until June 2024. He sees an opportunity to bring Abcam back to its previous high-performance and highly valued state. Additionally, Milner supports keeping Abcam’s Nasdaq listing while pursuing a Main Market listing on the London Stock Exchange.

Milner is not alone in opposing the $5.7 billion sale of Abcam to Danaher. Investor Headwaters Capital also disagrees with the transaction, stating that the fair value of Abcam’s shares should be between $35 and $39 per share, according to a report by CorpGov.

Despite reaching out to multiple potential bidders, including Agilent (A) and Thermo Fisher (TMO), Danaher was the only company to submit a formal offer for Abcam. CNBC’s David Faber reported that antitrust concerns may have affected the deal price. While other suitors may have expressed interest, Abcam chose to proceed with Danaher’s offer due to the higher likelihood of receiving antitrust approval.

Abcam CEO Alan Hirzel responded to Milner’s opposition, emphasizing the importance of considering all the facts surrounding the transaction. He noted that the shareholder circular will provide complete clarity to shareholders who seek more information.

Previously, Milner suspended his proxy solicitation efforts after Abcam announced its intention to explore alternatives. Activist investor Starboard Value also expressed support for the company’s sales efforts.

Danaher is scheduled to report its Q3 results on October 24.