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

To: Arthur Radley who wrote (8500)	1/27/1999 10:48:00 AM
From: aknahow	Read Replies (1) \| Respond to of 17367

The domicile change would still be an advantage in a merger with a U.S. domiciled company or even foreign cos. with a high domestic tax base. Instead of a merger, one could see an acquisition and a continued running of the acquired company as a Bermuda domiciled subsidiary, to maintain some of the tax benefits. Remember Amgen has several subs. in Bermuda. I sometimes think from some post, that some, think some physical move has been made to Bermuda. They have no operation in Bermuda anymore than they did in Delaware. Now, that said, I do not agree with RobertK reasoning if he is hinting that his points mean P III for Psoraisis will be done by XOMA for GNE. That decision will be made by GNE independent of all the points he mentioned. In terms of acquisition, I agree only that the probabilities are increased, that if there ever is an acquisition of XOMA, GNE is a more logical choice than another company which has never worked with XOMA on anything. BTW, remember that I would consider any acquisition of XOMA by anyone at this point to be bad news.