Mr. Pink,
This is where I learned of the "Contingent payment Right". (CPR) The CPR's are trading on the OTC:BB under the ticker,
BXTRR, currently quoted at around .19.
Is this something one could invest in? Since these CPR's are tied to BAX, it's not like I would be investing in a scam.
Baxter's Acquisition of Somatogen Completed
Today
Business Wire - May 04, 1998 12:21
BOULDER, Colo.--(BW HealthWire)--May 4, 1998--Somatogen, Inc. (NASDAQ:
SMTG) announced today that the acquisition by Baxter of Somatogen, a
biopharmaceutical developer of recombinant hemoglobin technology, has been
completed.
As a result of the merger, Somatogen's Common Stock will no longer be quoted on the
NASDAQ National Market. Under the terms of the merger agreement, each share of
Somatogen Common Stock has been converted into the right to receive 0.1685 shares
(the "Ratio") of Baxter common stock and one Contingent payment Right. The Ratio
was calculated pursuant to the formula set forth in the merger agreement. On May 1,
1998, Baxter common stock closed at $55.625. Letters of transmittal will be sent in the
near future to the Somatogen stockholders of record as of May 4, 1998.
CONTACT: Somatogen, Inc.
Nanita Waddell, 303/541-3311
Timothy Hoogheem, 303/440-9988
Thanks for your help,
Phil |
