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

To: Robert K. who wrote (7059)	8/28/1998 8:23:00 PM
From: William L. Molair II	Read Replies (2) \| Respond to of 17367

If XOMA has hired a firm to determine if shorting the stock - I will be disappointed. I would rather see the Company focus on their Phase III trials and conserving the cash that they have on hand. Let's assume someone is shorting the heck out of the stock. What is Xoma going to do about it? Also, isn't short data available at the end of the month? Why pay for it?

To: Robert K. who wrote (7059)	8/28/1998 8:52:00 PM
From: aknahow	Read Replies (2) \| Respond to of 17367

Bob, yes it appears it was a false alarm. XOMA had some initial discussions with the McKinsey Partners and I am hearing that the "Partners" on their own began the survey. Do I have 100% confidence in this story? No! How dumb, if XOMA hired them to find out things from shareholders they already know. I am glad however it does not represent an attempt to buy the company on the cheap. BTW I do not agree that a buyout would be costly. I think it would be at a price bearing a relationship to current market prices. While a 40% premium is normal even assuming 100% means a takeover close to $4. The poison pill defenses don't work that well as boards fear suits and if the offer is fair, and %0% above market seams fair to many a judge, how does a board reject the offer? If they do reject it they can be sued by those buying in at the current market so the defense crumbles. IMO.