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Biotech / Medical : Munch-a-Biotech Today

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To: aknahow who wrote (280)	3/18/1999 10:43:00 AM
From: scaram(o)uche	Read Replies (1) of 3158

Well, again, "eleventh" is deceiving. That's composed of a "first" or a "third" or a [something high] for first-tier and a "last" for third tier. What one thinks the true worth of the company is is not material, IMO. Well, if "one" happens to be Chairman of the Board of SIBI, do you think that they will let go of the plan for a 40-50% premium? Biotech takeouts are replete with huge premiums. One only needs to look at pre-1993 deals. An example is SyStemix, trading at a hefty market cap and at $17/share, going (60%) to Sandoz at $60. Used to happen all the time, and conditions are riper now than pre-12/94.

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