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Biotech / Medical : Somatogen (SMTG)
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To: Tim Mooney who wrote (423)2/26/1998 8:57:00 PM
From: CarlPerf   of 442
 
I did more than e-mail them, I talked with one of their Senior Vice Presidents (Dr. J. William Freytag), and expressed to him my concerns. He explained to me that Baxter was the aggressor and wanted them - but not at a huge premium. He indicated that it is still possible for another major firm to come in with a sweeter offer. The one difficulty other firms might have is valuing a biotech firm in development stage with negative earnings. Although I am not a giant fan of Baxter, it appears their aggressiveness and negotiating prowess won the SMTG board over. Again, the real winners in this merger will be the patients in need of this marvelous oxygen therapeutic.
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