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Biotech / Medical : Diversa Corporation (DVSA) -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (135)	3/12/2007 2:42:14 PM
From: tuck	Read Replies (1) \| Respond to of 144

>>T Rowe Price To Oppose Diversa's Merger With Celunol >DVSA Last update: 3/12/2007 1:56:00 PM DOW JONES NEWSWIRES T. Rowe Price Associates Inc. (TROW) on Monday reported holding a 7.1% stake in Diversa Corp. (DVSA) and said it opposes the company's proposed merger with Celunol Corp. As reported, Diversa signed an agreement to acquire privately-held Celunol in mid-February for 15 million of its shares. According to a Schedule 13D filed with the Securities and Exchange Commission, T. Rowe Price beneficially owns about 3.43 million shares of Diversa, a San Diego-based developer of novel enzymes. The investor said it intends to communicate with Diversa's board, management and other shareholders to oppose the proposed transaction and determine what alternative courses of action may better serve its interests. On Monday, T. Rowe Price sent a letter to Diversa's board expressing its "dissatisfaction" with the proposed transaction and outlining why the adviser was opposed to it. The letter urges the board to reconsider its approval of the proposed transaction and states that T.Rowe Price won't vote in favor of the transaction. T. Rowe Price said it believes "the merger would create unacceptable and unjustifiable financial, technological and execution risk for Diversa shareholders." Diversa's shares were recently trading at $7.14 each, off 1 cents from Friday's close. -Brian Coyle, Dow Jones Newswires; 202-862-3545<< A bit vague, but there you are. Cheers, Tuck