I looked up the paper, it seems its possible with acid to get the hydroxy ester. I was wrong, sorry. Remains to see if I am wrong regarding basic catalysis. That would go against my own experience in the lab. If we assume its possible, what would the rest of the steps lead to? You need to draw the allyl-substituted compound and proceed.
I have worked with a butyrolakton, to open this we used ammonia to get the 4-hydroxy amide. We protected the hydroxy group and treated the amide with nitrogen dioxide to get the nitroso amine. This was hydrolyzed with lithium peroxide to get the avid. So this is my point of reference, it was very difficult to get the open-chain compound in this case without going via the amide. This was 25 years ago, maybe my memory is failing in some way.