The article you have given a link to says they can, but they have to buy share holders out. That is different from what happened in my Canadian invesment. Share holders were not bought out. The asset in the public company was simply taken out of the public company and put into the newly formed private company.

From what I read, that can't happen here. That is, the same principals who have formed a new company cannot simply steal the asset by putting it in the new company without reimbursement to current share holders.

That's my reading.