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

To: LLCF who wrote (552)	8/5/1999 11:23:00 AM
From: aknahow	Read Replies (1) \| Respond to of 3158

IMO Merck will sweeten the pot by a bit more than just a token amount. Monsanto with far less pressure, i.e. no major institutional holder, uped its' bid for Calgene due to discontent among individual shareholders. MRK will fear a competitor being able to leverage the BVF discontent and take action. The board has a responsibility to shareholders and it will be difficult for them to ignore a better offer especially since the offer was a pure cash offer. If it was an exchange of shares there would be room to claim that the best interest were served by getting stock in MRK instead of XXX.