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Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM)
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To: Madharry who wrote (898)1/21/2002 10:26:09 AM
From: Elmer  Read Replies (1) of 3044
 
Hi Harry,

This article provides an explanation for the COR deal.

signalsmag.com

Also, if you look at the Morgan Stanley fairness opinion in the proxy material (page 45), COR is being purchased at 27.8 times 2002 EPS. That's cheap given the expected 3 to 5 year growth rate in earning of that company (35%).

I feel the pain of MLNM's decline but we are getting a good deal purchasing COR at current prices. If MLNM's stock were to decline say 20% more, COR might get another bidder.

Regards,
David
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