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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Henry Niman who wrote (13353)	1/15/1998 11:36:00 PM
From: John Zwiener	Respond to of 32384

Off topic, Henry, I've had time to think about the Lidak news and I think that that investor group is NOT paying a lot for control of the company. I also wonder if Katz is bailing out. No one else at lidak knew anything at all about this anouncement. Board of directors was caught off guard. They have been recieving inquires from good pharmaceutical companies and were working on them. Basically, they are trying to take control by giving a LOAN and then having a majority of shareholders put their shares in a TRUST that is administered by the investor group. Without actually buying the shares, they gain control by being the trust administrators. Then I guess that they can give themselves whatever they want. This may not be a done deal if the board is upset by having this sprung on them. Anyone know their track record, (the investor group). Also, lidakol is not said to be just another token antiherpes drug. Maybe Katz has been snookered. Anyway, thanks for responding. Your take on it is not far from my worries.