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Biotech / Medical : XOMA. Bull or Bear?

XOMA 24.91

-1.7%

Dec 18 3:59 PM EST

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To: Arthur Radley who wrote (7281)	9/23/1998 1:44:00 PM
From: aknahow	Read Replies (2) of 17367

BTW the big news today is Bayers second big deal in a matter of days. MLNM deal. To continue an old theme, I see these moves as seminal events that will stimulate others who were contemplating mergers, buyouts or deals to move faster. The top managements of Bayers competitors must be at a hightened level of alertness. Their job performance depends on their own ability to make the best possible deals they can for their own companies and doing so before someone else beats them to their designated targets. EXCERPT During the five-year term of the alliance, Bayer will make a total investment in Millennium of up to $465 million. Of this, up to $368.4 million will consist of guaranteed funding and performance fees for the drug targets identified, and a license fee for the use of the genome technologies developed by Millennium. The remaining $96.6 million will be paid by Bayer as an equity investment representing approximately a 14% interest in Millennium. In addition, Bayer will pay royalties to Millennium on the sale of any marketed products.

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