Donzo,

I can 100% assure you that the article you read about a company named legend that bid on a Chinese pharma company is not LGDI. The author of the article that you referenced made a mistake and noted the wrong stock symbol. There is a Chinese manufacturing company named Legend Holdings that made that bid.

Back to your fundamental question, Gutnick has no motivation to take the company private. He is motivated to either drive up the value of the stock or to sell the company at a high valuation. Either way the share holders win.