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Biotech / Medical : ICN Pharmaceuticals

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To: Clouseau who wrote (1011)6/20/2000 12:49:00 PM
From: Bret Masterson  Read Replies (1) of 1029
 
Dave,

(1) Maybe we can't boot the guy, but at least he could start being more responsive to Shldrs. A great first step would be for him to announce that "the proposed scheme is dead on arrival in response to the overwhelming negative opinion of the ICN shareholders, who I must be fidiciarily responsible.

(2) My thought was that the whole idea of the spin-off was to get assets out of the control of MP, therefore reduced the MP "inverse premium".

(3) I am sincerely hoping that WB is furiously trying to come up with another plan, now that they have egg on their face. Not to optimistic that they will come up with anything though. I've been a business consultant for several years, and the one thing that I've seen over and over is that it is very hard for professional service firms like I-Banks and Consultants to actually be honest with management when management itself is the problem. Our best hope is with an outside catalyst

Anyway, as long as the stock stays where it is or goes up, I intend to hold at least until proxy voting time.

Regards,

Bret
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