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Biotech / Medical : Aviron
AVIR 3.250-0.6%Oct 31 9:30 AM EST
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To: sim1 who wrote (640)12/6/2001 3:24:40 PM
From: Biomaven  Read Replies (1) of 645
 
Normally the commentaries by Nadine Wong are pretty reasonable. But this one seems off-the-wall to me.

if FluMist doesn't receive FDA approval, I'm assuming the merger deal would end, and MedImmune wouldn't be liable.

This has to be completely wrong. The merger will likely close before AVIR hears one way or the other, and nothing in the announcement makes it contingent. Clearly AVIR would never accept a deal that gives away a big part of the upside and provides no downside protection.

As always, the decision as to which to buy is one for the arbitrageurs. You get a better price by going with AVIR; you get less risk going with MEDI, as sometimes these deals do fall apart. (Look at the aborted GLIA acquisition, although it's hardly fair to cast AVIR with that unfortunate company).

I'm holding my AVIR, as I'm happy to hold MEDI.

Peter
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