SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Biotech / Medical : Oxford GlycoSciences Plc

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: nigel bates who wrote (449)4/11/2003 4:19:32 AM
From: nigel bates  Read Replies (1) of 469
 
The Evans/Goodman statement -

Christopher Evans & Alan Goodman
11 April 2003

Oxford Glycosciences PLC ('OGS')

Sir Christopher Evans and Alan Goodman confirm that they have now completed
their detailed due diligence on OGS. Based on the results of such final detailed
due diligence, Sir Christopher and Mr Goodman have concluded that an offer at a
value in excess of that currently offered by the outstanding offer from Celltech
Group PLC ('Celltech') is not a viable proposition.
They are, therefore, today
formally withdrawing their interest in OGS. However, they intend to maintain a
watching brief on the situation and reserve the right to make an offer for OGS
should Celltech's offer lapse.

Sir Christopher and Mr Goodman remain convinced of the benefits of consolidation
in the UK biotech sector, particularly by way of public to private transactions,
and they are currently actively pursuing a number of other attractive
opportunities in the sector.

11 April 2003


(nb they would have had to borrow the cash for the bid; the MEDX programme liability could have been the killer. Alternatively, they might just have fancied a free peek under the hood and had no firm intention of bidding anyway...)
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext