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

To: tonyt who wrote (13576)	1/22/1998 1:02:00 AM
From: Cheryl Galt	Read Replies (7) \| Respond to of 32384

>> SmithKline Beecham said it has held merger negotiations with American Home Products to form the world's largest drug company. Talks cooled after disagreements over price and other issues, say people familiar with the matter.<< ------------------------- Hi, Tony. I saw earlier a comment from one of the companies that the deal possibility was about 50/50. I wish I'd clipped it. And we know that AHP's yet-unknown liability regarding Redux would make things tricky. There were plenty of "possibles" and "mays" and "woulds" in the announcement --- the good old subjunctive is a lawyer's friend! Looking at the charts for AHP and SBH, going steeply up on rumors of merger talk, quote.yahoo.com I assumed they had to say something, acknowledge the rumors, for damage control. Late tonight, at 11:16 PM Eastern, AHP made a quick disclaimer announcement: American Home Products Corporation (NYSE: AHP - news) confirms that it has been in discussions with SmithKline Beecham plc in relation to a possible merger and that future discussions may be held. No assurance can be given that such discussions, if continued, will result in any transaction being agreed to or consummated. American Home Products does not intend to make any further comments or announcements unless and until an agreement is reached. SOURCE: American Home Products Corporation biz.yahoo.com -------------------- Tony, What are your sell stops for AHP and SBH ? Cheryl