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Biotech / Medical : PFE (Pfizer) How high will it go? -- Ignore unavailable to you. Want to Upgrade?

To: Doug Soon who wrote (8288)	11/16/1999 7:55:00 PM
From: john dodson	Read Replies (1) \| Respond to of 9523

Wasn't it basically already hostile last week? The question that I'm mulling with is how low PFE will go before they either drop out of the running for WLA or up their bid. PFE share price has dropped enough for the WLA board to rightfully claim that the PFE bid ($33 7/8 x 2.5 = $84.6/share) is now substantially the same as the AHP offer ($55 x 1.5 = $82.5/share). Give it some time, and it may not even be as good! Even upping the bid to 3 full shares for WLA may not be enough to win in the face of an eroding PFE stock. If it drops down to $30, even an offer of 3 full PFE shares per WLA share would only be $90 -- which incidentally is lower than today's WLA close of $90 7/8. The other question is "I wonder if AHP is even thinking of raising their offer?" Guess as of today, there's not much need to do that. WLA is clearly committed to them, and their bid is about the same as PFE for now. -John