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Biotech / Medical : Cor Therapeutics Inc. (CORR)
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To: RCMac who wrote (404)4/21/1999 10:17:00 PM
From: aknahow  Read Replies (1) of 712
 
From TSC, "
"The options are trading as they should, wagering about a 50-50
chance Centocor will get bought," said the Philly trader. "Let's face
it. Big drug companies don't buy second-tier biotechs if they don't
have to. But that doesn't mean it won't happen."

Meantime, professionals were somewhat skeptical that a Centocor
deal was imminent. "The rumor has spread so far around the
Streeet, I have to believe it's a short squeeze," said one hedge
fund manager who requested anonymity.

But there is a feeling that Centocor and many of its biotech brethren
are on the block and that the investment banking community is
shopping M&A packages because investors don't have the
appetite for further equity offerings."

Just a small part of an interesting article at thestreet.com.

short term it might be a negative for CORR if CNTO is merged. IMO in the medium term a merger of CNTO would be good for CORR. It would leave it as about the only pure play with this type of product on the market. And it becomes the remaining target for anyone else who might have been considering merging with CNTO.

Apparently, the market considered the 35% increase in sales as bullish. I did not think so at first but if they can increase at this rate for several quarters, I guess that is pretty good.
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