Cell Genesys (CEGE) Message Board

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Biotech / Medical : Cell Genesys (CEGE)

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To: bill small who wrote (654)	12/17/1999 5:18:00 PM
From: Ken Reidy	Read Replies (1) of 1298

Two weeks ago, I calculated that CEGE's ABGX holdings exceeded $250 million. At today's close of 117 5/8, CEGE's ABGX holding's are worth over $390 million. Add the working capital (which includes a big chunk of cash...a precious commodity these days), patents, PEOPLE, pipeline, tax loss carryovers, etc., etc. and you see that this deal is very unfair to CEGE shareholders. The $10 offer equals a price tag of $350 million for all of the above. Of course ABGX's price is not liquid but it is shooting straight up. I was very surprised not to see more volume today. There were a few good size blocks after the close. Maybe the volume will kick in Monday. I may be naive, but how can this deal possibly go through?! host.cnbc.com

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