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Strategies & Market Trends : Three Amigos Stock Thread

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To: brogan who wrote (18937)	2/21/2000 8:48:00 PM
From: Ken W	Read Replies (1) of 29382

brogan: This is from the Jan, 6 release: Under the terms of the agreement, SGF will acquire treasury shares of DRAXIS Pharma at a premium as compared to DRAXIS Health's equity cost base. Following completion of the transaction, the shareholders of DRAXIS Pharma will be: DRAXIS Health (65.7%), SGF (31.8%) and DRAXIS Pharma senior management (2.5%). Closing of the transaction is expected to take place on or about January 31, 2000 and is subject to, among other things, satisfactory completion of due diligence and the negotiation and signing of definitive agreements. If SGF aquires shares of DRAX at a premium to the treasury cost basis DRAX gets the difference in profit? If that is fact then the bottom line of the company will improve over last quarter. I wonder how much of a premium we are talking about. I like that SGF is "investing" and not taking convertibles or perferred shares..a big plus in my book. This should be very interesting tomorrow. The bride and I are going to Vegas for a couple of days to the Award Recognition Assoc. Convention, so tomorrow I'll be home all day to watch and yeha all over the place....I hope. Ken

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