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Biotech / Medical : Ligand (LGND) Breakout!
LGND 194.79+1.3%3:59 PM EST
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To: D.Lu who wrote (25869)9/29/1998 7:27:00 PM
From: Henry Niman  Read Replies (3) of 32384
 
The real issue could be a BUYOUT:

Here's the BUYOUT part:

Standstill in Place
Ligand and Elan have entered into a standstill agreement such
that Elan can not own more than 25% of the outstanding common
stock of Ligand. Elan could increase its ownership to 25% of the
company through purchases on the open market or through private
transactions. If Elan wished to increase its ownership beyond
25% it could only be done so on a friendly basis and would have
to be a bid for the entire company.

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