Greg,
It is inconceivable to me that any other company besides Elan, the largest shareholder, could put any takeover moves on Bioject. Elan is contractually constrained from making any moves in that direction until October, 2000.
I have spoken with Mike Sember, who is an Elan employee and a member of Bioject's board. Mike denies that Elan has any intentions in this direction. However, Elan has acquired American companies in the past, and could easily do so after the constraints expire. If such a takeover were to take place, it would probably follow established Elan precedents and be a stock swap, at a slight premium to the market value of BJCT stock.
I wouldn't hazard such a long term guess as to BJCT's share value in 2+ years. But, I have previously stated that $5.50 is a reasonable short term expectation, based solely on estimated market capitalization value for a winning portable, non-invasive, and continuous glucose monitoring technology. So far, nobody has disputed this assertion, and I continue to stand by it.
Marc Kahn |
