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Biotech / Medical : OSI Pharmaceuticals (OSIP) - formerly Oncogene -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (282)	10/11/2005 2:04:00 AM
From: DewDiligence_on_SI	Read Replies (1) \| Respond to of 447

Anyhow, here's the S-4/A: I’ve always thought Macugen was a marginal drug and hence this deal never made sense to me. I think the chance of a better offer emerging for EYET as a standalone entity is nil, and the chance of a rejection by EYET’s shareholders is close to nil. If you are long OSIP, the longshot scenario you ought to be hoping for is a suitor emerging for the combined company. Regarding OSIP’s shareholders being denied a vote: that’s the only way Guyer would have agreed because Guyer knew how unpopular the deal is going to be with OSIP’s shareholders. Hence Guyer proposed an end-run around Nasdaq’s voting rules by making just enough of the deal’s consideration in cash to avert triggering a mandatory vote.