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Biotech / Medical : Ligand (LGND) Breakout!
LGND 206.84+2.8%Nov 18 3:59 PM EST
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To: lavalamp who wrote (11033)11/13/1997 2:29:00 PM
From: Henry Niman  Read Replies (1) of 32384
 
lavalamp, I think that the 20 day period has always been part of the terms of the call. This is from the March 10-K:
"Any such
Ligand common stock or Allergan common stock will be valued based upon the
average of the closing prices for such stock for the 20 trading days
immediately preceding the day prior to the closing date of the Stock Purchase
Option. The Stock Purchase Option Exercise Price will be paid generally within
60 days after the date of exercise of the Stock Purchase Option."
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