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

To: Bhag Karamchandani who wrote (6017)	1/28/1999 10:19:00 AM
From: Steve Fancy	Read Replies (1) \| Respond to of 6136

Bhag, I was concerned that something is wrong. Despite the comments in the press that a buyout had been factored in at $60, there were valuations such as PaineWebbers that to the best of my knowledge did not. Managements decision to sell out at current market value concerned me that there is potentially less than desireable news somewhere in the pipeline...perhaps Remune in that IMNR has been struggling also. In answer to your question, at 59 3/4 I received close enough to the buyout figure that it seemed wiser to take the money and run...put it into something else, rather than risk a market pullback diminishing the value of the deal, or tying up the cash for 3 months for 1/4 point. In that it's a stock swap, unexpired options will be converted to WLA options. With the high P/E and likelyhood of a market pullback, seemed I could easily end up with less than 59 3/4...or some WLA options I don't particularly care to own. My cost basis on my last position was around $49 so I didn't fare to bad. Thanks for all your contributions Bhag and good luck to you! sf PS: Had to laugh yesterday when I saw a piece from some source where one of the companies commented that despite the small premium over current price, it was a huge premium over last September. Don't know why more companies don't use that logic when presenting or accepting offers...base the premium on the 52-week low.