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Biotech / Medical : Agouron Pharmaceuticals (AGPH) -- Ignore unavailable to you. Want to Upgrade?

To: John Romeo who wrote (5970)	1/26/1999 9:35:00 PM
From: Jan P	Respond to of 6136

John, I agree and am very upset about the deal. I had a wild mood swing starting this morning when I read the anecdotal but thrilling story about AG3340's use with the prostate cancer patient (by the way, I thank the poster of that message). Then, low and behold, as I go to look for earnings, I find this sell out. I would infinitely prefer having WLA hold a 19% stake in Agouron than seeing its programs submerged in a behemoth conglomerate for a 25 cent premium. I plan to vote no, and I hope many others do too. Jan

To: John Romeo who wrote (5970)	1/26/1999 10:08:00 PM
From: mod	Read Replies (4) \| Respond to of 6136

John, As long as WLA is between $64.52 and $74.00 on the dates used to set the price, each share of Agouron stock will be exchanged for $60 of WLA. Period, no chance of anything better. They adjust the ratio to arrive at $60 exactly. The only way AGPH shareholders get more (or less) is if WLA trades outside those boundaries. If WLA is above $74, we get .8108 of WLA and if below $64.52 we get .93 shares of WLA. This is a bad deal for AGPH shareholders who have believed in the company, for management to sell at a low price just as the profits start rolling in, the stock price starts rising, and the pipeline is filling up. Someone will make a lot of money off of Agouron's research, but it won't be us anymore. Even if you hold the WLA stock, the AGPH contribution to sales and earnings is a mere blip on their income statement.