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Biotech / Medical : Biotech Lock-Up Expiration Hell Portfolio
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To: tuck who wrote (519)11/30/2001 3:45:56 AM
From: nigel bates  Read Replies (1) of 1005
 
(FWIW)

NEW YORK, Nov 29 (Reuters) - Discovery Partners International (NasdaqNM:DPII - news), a provider of research products to pharmaceutical companies, may be snapped up by a big drug company, according to the BusinessWeek's Inside Wall Street column.
The firm, which helps biotech and pharmaceutical firms speed up their drug discover processes, sells instruments and associated products used to create chemical compounds and new drugs, the column said.
Shares of San Diego-based Discover Partners closed Thursday at $5.30, off a 52-week high of $13.50, up from a year low of $2.75 per share.
Citing a large shareholder, the report said it expects a pharmaceutical firm will make a move for the company. The shareholder, Flacks Investment Partners, estimates Discovery Partners received an unsolicited offer that was deemed too low earlier this year. Flacks said the stock is worth $15 in a buyout.
A Discovery Partners representative could not immediately be reached for comment...
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