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

To: George P. Stergio who wrote (911)	12/17/1999 8:51:00 AM
From: Lane3	Read Replies (1) \| Respond to of 942

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. One reason is that mergers are hard on organizations even when the parties are compatible. When there are personality clashes or organizational culture clashes, long-term shareholder value can be devastated, particularly when the resulting environment causes the loss of talent. While there's always the risk that the key players will feather their own nests at the expense of the company, there's something to be said for giving them lattitude to assess what is or is not a good fit for their companies. Karen

To: George P. Stergio who wrote (911)	12/22/1999 2:38:00 PM
From: john dodson	Respond to of 942

George, Well as a WLA shareholder, I for one am chomping at the bit to get a chance to vote OUT the WLA board. Course my shares only number in the 100's, a drop in the bucket. But vote them I will if given the chance. The thing is if the WLA board had a good reason for not agreeing to the PFE board, I would consider it. I really would. This "merger of equals" stuff doesn't sound to me like the shareholder was a very high priority in the decision making process. Also, if the WLA BOD now makes up some reason, it would look like they're trying to justify their decision to spurn PFE -- EVEN THOUGH PFIZER'S OFFER IS CURRENTLY A BETTER. It's like the WLA BOD is surprised why anyone -- Pfizer, WLA shareholders, ..., would so insist on getting the best price for the company. Those guys are clueless. -John