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

To: Flagrante Delictu who wrote (14253)	2/4/1998 11:21:00 PM
From: WTDEC	Respond to of 32384

tonyt, Bernie, Torben, Cellery et. al. - - Wow!! I have only now returned to SI and see my posts sparked some good debate over the LGNDW vs. LGND issue. Such debate is healthy and will help all of us make more refined investment decisions in the future. I do have some further observations on a number of your posts, but I must wait until some time tomorrow. I am a bit disappointed that no one has yet focused on the Farallon overhang, which I feel should produce a premium below theoretical value. If Farallon has a better place to use their capital, they should be happy to 'pay up' for liquidity by accepting a low premium on the sale of LGNDW. Does anyone know how many shares they have left to dump on this very thin market? You can be sure they will do so whenever they find a more attractive arbitrage opportunity, so we may well see very low premiums like Tuesday's again. Henry, do you have any insight here? Until tomorrow.....