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Biotech / Medical : wla(warner lambert)

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To: billkirn who wrote (913)	12/22/1999 2:44:00 PM
From: john dodson	Read Replies (1) of 942

Excellent point. Consider what would happen if PFE were successful in ousting the current WLA board, and install one that is sympathetic to their cause. If that happened under current conditions, there would be no need to raise their offer. In fact they could even reduce their offer to 2 shares, since even that is currently higher than the AHP offer. Good thinking. I do think that they'd at minimally go for the 2.5 shares offer. Then again, the value there is pretty much inline with where WLA is currently trading. It's almost as if the market is totally ignoring AHP's measly offer. -John Dodson

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