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Biotech / Medical : Munch-a-Biotech Today -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (549)	8/5/1999 9:47:00 AM
From: Biomaven	Read Replies (2) \| Respond to of 3158

Here's an extract from the article: WASHINGTON -(Dow Jones)- A group including Biotechnology Value Fund LP, which owns about a 13.6% stake in Sibia Neurosciences Inc., Wednesday said that it doesn't believe that Merck & Co.'s proposed $87 million acquisition of Sibia reflects the fair value of the drug company. Biotechnology Value Fund stated that it may explore various alternatives to enhance Sibia's (SIBI) value. The group has expressed its views with Sibia and Merck's (MRK) management and other shareholders. Merck's $8.50-a-share tender offer for Sibia will begin Aug. 6. Sibia has said shareholders owning about 33% of its outstanding shares have agreed to support the transaction. Note there still hasn't been much disclosure of the details of the acquisition. Don't know what will happen to shares that aren't tendered. Peter