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

To: Henry Niman who wrote (26865)	12/11/1998 6:21:00 PM
From: Exacctnt	Read Replies (1) \| Respond to of 32384

Henry, A similar thing happened to me with a different stock. I received an offer through my broker from a third party wanting to take a position in a company. In this case the company was MMG. The offer was $2 below the current market price. I was irked that the third party would presume that I would sell my shares to them at a price below the current market value. I certainly don't understand the rational for making such an offer. Regards, Bob

To: Henry Niman who wrote (26865)	12/11/1998 6:36:00 PM
From: aknahow	Respond to of 32384

Henry, this might not be the same Summit but it seems probable. Site contains a list of clients, one grouping is in healthcare. I do not understand the intent of the offer nor who is behind it. Think a lot of additional info. is needed. I would understand 20%, but 2%??? summitpartners.com ALSO Investment Focus Rapidly growing and profitable private companies and divisions of public companies Equity/subordinated debt investments of $5-100 million per transaction Minority or majority stakes with strong management teams Technology and healthcare related industries; recapitalizations More Than $3.3 Billion Under Management Summit Ventures, L.P. $100 Million 1984 SV Eurofund, C.V. $60 Million 1984 Summit Ventures II, L.P. $230 Million 1988 Summit Ventures III, L.P. $280 Million 1991 Summit Subordinated Debt Fund, L.P. $140 Million 1994 Summit Ventures IV, L.P. $610 Million 1995 Summit Subordinated Debt Fund II, L.P. $340 Million 1997 Mt. Everest Funds $410 Million 1997 Summit Ventures V, L.P. $1.04 Billion 1998