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Biotech / Medical : Sugen (SUGN)
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To: David Bogdanoff who wrote (501)6/21/1999 3:01:00 PM
From: RCMac  Read Replies (1) of 550
 
>>a counter-bid for Sugen?<<

The takeover agreement, as described in the 6/15 announcement, included some "lock-up" provisions that are intended to act as a strong disincentive to anyone else buying SUGN:

"Under certain circumstances, if the merger agreement is terminated, Pharmacia & Upjohn has the right to purchase up to 19.9% of SUGEN's common stock and has the right to a fee of $17 million."

--RCM
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