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Biotech / Medical : Trickle Portfolio -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (460)	2/27/2001 12:42:28 PM
From: keokalani'nui	Read Replies (1) \| Respond to of 1784

Tuck, what do I know. But there is a lot not to like about APBI, irrespective of its leadership in the life sciences market. The majority of proceeds, it seems, are going to a parent. Only a 10% minority interest will be sold to the public, and the company is barely profitable under current management. The company's financial results will still be consolidated, and 'invisible' to the parents' shareholders who may not go to edgar to break out the #'s (thus, less pressure to improve at parent level). Worst of all, you can be sure that the parents' aim is to do a DNA on the market, when and if the price spikes, by dumping shares. No chance of a take-over; and any merger or acquisition will be analyzed from the competitive/strategic needs of the parents. The prestigious underwriters are associated with the IPO because of relationships with the parents and are thus especially unlikely to ever come to a buy recommendation critically. Plus, at a multi-billion MC, imagine what has to happen to get a double or a triple? Now that I am on record, watch it go the moon. --Wilder