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Biotech / Medical : XOMA. Bull or Bear? -- Ignore unavailable to you. Want to Upgrade?

To: Kushi Kullar who wrote (7047)	8/28/1998 3:36:00 PM
From: aknahow	Read Replies (1) \| Respond to of 17367

Just a guess but one must include Genentech among the possible suspects. The convertible debentures held by Genentech are convertible at current market prices which would give them defacto control of XOMA. They just might want to know what price they need to pay other shareholders to buy them out in a way that does not leave a bad impression in the market. (Since they will be also thinking of their image as a partner with others). I don't see someone wanting to do a surprise buyout starting from scratch, or even just below the 5% level, tipping their hand, by doing a survey. The law suit concept remains valid but this could apply to so many that it would seem the nearness to the end of the P III trial might be of more importance to stimulating a bid now rather than in a few months.