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Biotech / Medical : Munch-a-Biotech Today
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To: scaram(o)uche who wrote (269)3/17/1999 4:03:00 PM
From: Mike McFarland  Read Replies (2) of 3158
 
apparently this ran in the WSJ today. Here is a snippet.
--I realize this would likely be a pharma deal, but maybe
we will see Bayer suck up a few of the 1B biotechs instead.
Amazing how desperate these guys are willing to sound.

With Bayer slipping rapidly down industry rankings,
Chief Executive Manfred Schneider admits he is scouting
for a partner. Speaking at Bayer's annual news conference
Tuesday, he insisted there is "no financial limit" to the
deal he is prepared to do if the right opportunity appears.
However, the ranks of eligible candidates dwindled after a
flurry of multibillion-dollar mergers among mid-size European
drug makers late last year. Mr. Schneider admitted "the supply
of big companies on offer is less than demand from potential
buyers today." As a result, Bayer is more likely to do 10 separate
$1 billion deals than a single $10 billion transaction, he added.

See the WSJ or the yahoo cnsi thread if you want the full thing.
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