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Biotech / Medical : wla(warner lambert) -- Ignore unavailable to you. Want to Upgrade?

To: tombet who wrote (910)	12/17/1999 7:20:00 AM
From: George P. Stergio	Read Replies (2) \| Respond to of 942

Are there a lot of shareholders on this site in favor of the pfizer - warner lambert deal. I am trying to get a sense of why warner lambert shareholders would not vote in favor of the pfizer merger and oust the existing board of wla. there is a stagnant feeling regarding the upside appreciation about both of these stocks and it seems like the market would react better to a pfe - wla deal. any thoughts on how the people on this site are going to vote on the pfe proxy to oust the board....

To: tombet who wrote (910)	12/22/1999 3:41:00 AM
From: John Romeo	Respond to of 942

I have read that some analysts agree that PFE will initially go to a 3 share ratio and if things get sticky could pull out 3.5 shares to close the deal,still remaining accretive to earnings. I agree with the posters here. What is the deal? There is none, a conditional offer,yes. I would like to see a firm offer before voting on ousting the board.Not that the WLA BOD has been objective in this process,I doubt we could see over 3 shares of PFE stock if they are able to oust the BOD. With a WLA board and a firm PFE offer, fruitful negotiations between both parties could garner the 3.5 share ratio. I would have to believe the WLA BOD could not turn their heads to that size offer. It would wreak of impropriety.

To: tombet who wrote (910)	12/22/1999 2:28:00 PM
From: john dodson	Respond to of 942

Re: It will take more than 2.5 shares of PFE to get WLA That's what I thought originally to. Consider what has transpired, though. The AHP offer of 1.49 shares for each WLA share was worth $75+ a few weeks ago. Now that AHP has dropped to $40, the offer is worth about $60+. Course AHP is up a smidget from there, but the trend has been down. PFE's offer of 2.5 shares at $33 is still $82.5, over $20 per share better than the AHP offer. Granted both stocks have been somewhat volatile, but clearly AHP has been pretty much going down. No doubt the market doesn't have much faith in AHP's ability to win a fight for WLA. So, at this point you gotta ask why PFE would raise their bid. What would they gain? Their offer is over $20 a share better than AHP's as it is. That's pretty compelling stuff. Of course, as a WLA shareholder, I'm prepared to be even more compelled! In fact, an offer of 3 PFE shares would probably be the straw that breaks the WLA BOD's back. $100 a share versus $60 something. That's not even close. Not even volatility could diminish that difference very easily. That might even make AHP consider rescinding their offer. Who knows. The WLA BOD appear to be a bunch of inert folks from the looks of it. They might just try to ignore a $40 premium also. How in the HELL do they get away with that? -John Dodson