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Biotech / Medical : Oxford GlycoSciences Plc -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (412)	3/24/2003 3:25:43 AM
From: nigel bates	Read Replies (2) \| Respond to of 469

The thing I have difficulty understanding is why anyone would dump a large stake (the '10%') in OGS at this point, when it's pretty clear that a higher offer (in some form) is going to emerge. No announcement from them, but Celltech could not have paid more then the £1.82, otherwise they would have had to formally increase their offer. Unless Celltech made it unequivocally clear to the institution concerned that they wouldn't increase their cash offer, and said institution didn't want to end up holding CAT stock, why sell at this stage, even if you want out of biotech for good ?