ARIAD Pharmaceuticals Message Board

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Biotech / Medical : ARIAD Pharmaceuticals

ARIA 23.99

0.0%

Feb 17 4:00 PM EST

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To: LLCF who wrote (769)	12/4/1999 9:48:00 AM
From: Dr. John M. de Castro	Read Replies (2) of 4474

Could someone explain to me why HMR did not simply buy out ARIA. With a market cap of $31MM, HMR could have had ARIA for a tender offer of $50MM. They could liquidate any parts that they didn't want. They would have gotten ARIA's half of the genomics center plus ARGENT as a bonus. As it is they paid, if I estimate properly, about $46MM for the half of the genomics center by itself. This suggests that HMR does not value ARGENT very highly. Can anyone explain this? Are we overvaluing ARGENT? Is HMR stupid? Are there some takeover clauses in the toxics or poison pills that I'm missing? Best regards John de C

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