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

To: Henry Niman who wrote (22016)	6/17/1998 8:07:00 AM
From: Henry Niman	Respond to of 32384

CNBC has indicated that the restructuring deal between Astra and MRK will be delayed (not announced today) and will possibly be announced later this week. They also mentioned Bayer as a possible partner for Astra. Other merger news: Westminster Hits Failed Merger Talks Once upon a time, British executives would be harshly criticized by a Labor-dominated Parliament for merger deals that trimmed jobs and eliminated competition. But it was a different story yesterday as a parliamentary committee took executives of SmithKline Beecham and Glaxo Wellcome over the coals for the collapse of their merger talks earlier this year. The lawmakers questioned the judgment of management at both pharmaceutical giants for abandoning the negotiations "without a clear cause." In addition, the panel said the firms missed the opportunity to develop a research "powerhouse" that would have put Britain in a strong position in the increasingly competitive global drug industry. Reports following the breakdown of talks suggested the two disagreed on who would hold the No. 3 position in the merged company.