Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 206.36

+1.4%

Nov 26 3:59 PM EST

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To: celeryroot.com who wrote (12288)	12/8/1997 6:58:00 PM
From: Henry Niman	Read Replies (1) of 32384

Celeryroot, I realize that they could take exercise their LGNDW to get LGND, but if they did, wouldn't they just use them to cover? What advantage is there to owning LGND after you have already shorted the stock? My past assumption was that Farallon didn't care or know anything about LGND. They justed shorted it to set up their arbitrage position and now that ALRI has been called they would unwind the postion (and my reading of the filing on Friday was that 1/2 of the short position was covered then) and move on.

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