Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

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To: Flagrante Delictu who wrote (13532)	1/20/1998 3:13:00 PM
From: Henry Niman	Read Replies (1) of 32384

David Favor did ANOTHER report. Hit some of the same points, but I did catch some names this time (but I'm guessing at spelling). He indicated that since it was a merger of equals, there may not be a huge price premium, even though the price of both companies has risen sharply today. Since the sector is trading at such a premium, a merger mught have been driven by a desire to get growth rates into the 15-20% range. He also indicated that sometimes succession issues can kill deals, but this time it was favorable. Jack Stafford runs AHP, but there is no strong #2 person. Ian Leslie, who runs SBE, is rumored to have bought a La Jolla house, suggesting he will not be running SBH. Favor also mention the Redux wildcard (liability has not be determined). Smith Barney upgraded AHP to a BUY and expected deal to take 6-10 months to finalize.

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