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Biotech / Medical : Oxford GlycoSciences Plc

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To: The Dodgy Ticker who wrote (336)	2/17/2003 4:53:24 AM
From: nigel bates	Read Replies (1) of 469

OGS shares rise as Celltech considers bid Shares in Oxford GlycoSciences (LSE: OGS.L - news) rose nearly 7 per cent on Monday on news that Celltech (LSE: CCH.L - news - msgs) was considering a takeover bid for the biotech group to rival an offer submitted by Cambridge Antibody Technology last month. GÃ¶ran Ando, the Pharmacia research and development boss who will be announced as Celltech's chief executive next month, has spent the past few weeks with his chairman designate, Peter Fellner, hatching a takeover bid for OGS. Celltech, advised by Cazenove, is planning an all-cash bid for OGS to rival the all-share offer submitted last month by CAT. That deal was worth £110m at the time, but by Friday's close its value had fallen to £102m. In early morning trade, OGS shares were up 7 per cent at 183.5p. Celltech shares were down 0.3 per cent at 330p... A cash bid from CLL would be a real disappointment, IMO. An OGS / CAT combination would be a very interesting investment. CLL is just a bit too big for my taste.

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