|
Post by selluwud on Nov 12, 2015 20:01:32 GMT
I predict 10% and that's it.
|
|
|
Post by actcforme on Nov 12, 2015 20:07:10 GMT
I would direct you to prior deals by Astellas. First one was hostile bid, Gilead Science rescued CV Therapeutics, and second "after overtures for a year" deal reached but raised price (for OSI) $5.50 more: Note wording "After more than a year of overtures."
www.forbes.com/2009/03/16/astellas-cvtherapeutics-gilead-markets-equity-biotech.html No Bidding War For CV Therapeutics
It took a deal with another company for Japan’s Astellas Pharma to finally realize that it was not wanted by CV Therapeutics and the biotech’s shareholders.
On Monday, Astellas Pharma withdrew its hostile bid for the Palo Alto, Calif.-based biotech, citing the recent deal between Gilead Sciences and CV Therapeutics as too pricey to counter. “Astellas is a disciplined acquirer and does not see value for Astellas stockholders in CV Therapeutics at the price level of the sale announced on March 12,” Astellas said in a statement to the press.
Astellas will also withdraw a lawsuit in the Delaware Chancery Court against CV Therapeutics and its directors.
The $16.00 per share offer from Astellas, which valued the U.S. company at $1.0 billion, was turned down by CV Therapeutics privately before Astellas took the bid public in January. (See “CV Board Doesn’t Have The Heart To Sell.”) After a public rejection by the maker of heart drug Ranexa, Tokyo-based Astellas took the bid to shareholders in late-February. (See “CV Therapeutics To Astellas: No Thanks.”)
CV was saved from the hostile bid by Gilead Sciences, which makes the HIV drugs Truvada, Viread and Atriplia. (See “Sir Gilead Is CV’s White Knight.”) The Foster City, Calif.-based company signed a definitive agreement to acquire CV last week for $20.00 per share, or $1.4 billion. CV’s board approved the Gilead bid. Gilead said the transaction would be dilutive to its earnings in 2009, neutral to accretive in 2010, and accretive in 2011.
Gilead’s shares edged up 32 cents, or 0.7%, to $45.75 in premarket trading on Monday, while CV shares lost 4.7%, or 97 cents, to trade at $19.70. Shareholdres of CV appeared disappointed by the failure of a bidding war developing.
The matchup with Gilead will give CV a better platform to market Ranex than it would have been able to handle on its own.
www.thepharmaletter.com/article/astellas-secures-acquisition-of-osi-pharma-raising-its-offer-to-4-billion
Astellas secures acquisition of OSI Pharma, raising its offer to $4 billion
Astellas PharmaBiotechnologyMergers & AcquisitionsOncologyOSI PharmaceuticalsPharmaceuticalTarceva
Japanese drug major Astellas Pharma late Sunday night said it has finally reached agreement to acquire the US biotechnology firm OSI Pharmaceuticals, after more than a year of overtures. The latter had previously rejected Astellas’ formal bid earlier this year, saying that the $3.5 billion ($52 per share) offer did not reflect OSIâs true value, and set about finding a âwhite knightâ rescue, which failed to materialize (The Pharma Letters passim).
Under the terms of the merger deal, Astellas will sweeten its offer price to $57.50 per share, which represents a premium of 55% to the closing price for OSI’s shares of $37.02 on February 26, 2010, the last trading day before the announcement by Astellas of its tender offer. However, this is still lower than OSI's Friday closing price of $59.80 in New York, when the stock jumped 4.4% on speculation of a raised bid from Astellas. The boards of directors of both companies have unanimously approved the combination. The all-cash transaction is valued at $4.0 billion on a fully diluted basis, an increase of around 10.5% on the original offer.
|
|
|
Post by actcforme on Nov 12, 2015 20:11:51 GMT
I do not see them offering more with the deal not being hostile and no longer in negotiations, rather accepted unanimously by OCAT.
Will SH's force a vote? I want out before legal action filed.
|
|
|
Post by spambox on Nov 12, 2015 21:43:31 GMT
I wonder if Ocata will even consider a tender from another entity - I get the impression Wotton (the back-stabbing a-hole) has positioned himself very nicely with the new merger and stands to make multiple times more millions than he would by just keeping the status quo (pre-sellout). He and his buddies just took a huge almighty cr@p all over longs - the longs that have kept their doors open and paid their salaries for years. *****
|
|
|
Post by harlem on Nov 12, 2015 21:45:43 GMT
i believe sh will force a vote but that institutional investors will vote for a nice gain on there investment of just months ago and getting 50.001 percent will be attained by mgt. No reason for them to up the pps as even if they do there will be someone suing them, In my opinion the cost of a lawsuit with ten plaintiffs or a hundred makes no difference to them. the lawyers will take a multi million dollar settlement, pay themselves a fortune and the crumbs to the plaintiffs. the lawsuit takes place after the deal goes through so no need to worry about damages to ocata or getting the 850 pps. Also, There is a very slim chance another bid could come into play at the eleventh hour. If i anm wrong, some one could correct me. imo glta
|
|
|
Post by spambox on Nov 12, 2015 21:57:59 GMT
I just want to see a fair or even vaguely reasonable offer. ANYONE who has done any due diligence on the science knows that $8.50 is ridiculously undervalued.
|
|
|
Post by rickrick on Nov 21, 2015 7:08:10 GMT
Time to wake up and realize that we are seeing what the insiders have seen for a long time.
For as awesome as we have wanted this to be, it just didn't turn out that way.
This company and science is finished and is going to be shelved and used the way the new owners want it to be used.
Cures don't make money, drugs make money.
If there was anything more than we have seen in this offer it would have already shown up a long time ago.
The company proved this when the road trip failed to get even $5 a share. The only thing that has kept this company alive is the hopeful retail investors and any institutions that have sold for a profit.
|
|
|
Post by deadally on Nov 21, 2015 11:08:03 GMT
Cures don't make money, drugs make money. Several factors contribute to this line of talk being a bad reason why Astellas would shelve the RPE 1) RPE is not a cure to anything. It has so far demonstrated efficacy. But the disease does not go away 2) Astellas has no presence in ophthalmology. Therefore, it loses absolutely nothing even if it does find a cure for AMD 3) The very premise, "cures don't make money," is inherently flawed. Even if you could cure a disease in one person (for a huge amount of money that would have taken into account the years of supportive care and treatment the patient would have received, by the way), the disease isn't eradicated. More people will grow old. More people will get the disease.
|
|
|
Post by spambox on Nov 21, 2015 17:01:38 GMT
Seems kind of obvious to me that what rickrick meant is that ongoing repeat treatments will generate more revenue than a one-off cure.
|
|
|
Post by ignorantsilver on Nov 21, 2015 18:25:48 GMT
I don't see a reason that the price would be increased unless there is a competitive bid. If that were to happen I could see this thing doubling or even a bit more (100-200%). Because there is so much IP here to gain by buying Ocata I'm thinking there's a decent chance of competitive bidder entering the fracas.
I'm gonna say 50% chance of $8.50 and 50% chance of $15-25 range
|
|
|
Post by deadally on Nov 21, 2015 20:15:41 GMT
Seems kind of obvious to me that what rickrick meant is that ongoing repeat treatments will generate more revenue than a one-off cure. But what Rickrick said was that cures do not make money. While there may not be as much revenue to gain in removing an ailment, to conflate that with the idea that there is NO money in removing the ailment is not an accurate assessment. Cures can make you money because there will continue to be a fresh pool of patients requiring your [ideally] one-off treatment. And if a cure for your disease exists, you'd damn well BETTER be the one who discovered it, because your treatment is going to be phased out by the competition. There is major, major incentive to identify better treatments in drug development. And for most diseases, especially degenerative conditions, there is no cure, and there may never be.
|
|
|
Post by CM kipper007 on Nov 21, 2015 20:37:43 GMT
There's a good chance SMD patients would need multiple injections in their lifetime.
At 3 treatments costing approx 100 - 300k each, there's no way in hell a company would out that on a shelf.
|
|
|
Post by selluwud on Nov 25, 2015 13:39:06 GMT
This poll locks up at the end of the business day and it looks like the nays have it. Happy Thanksgiving to all, I hope your turkey turns out better than this investment.
|
|
|
Post by spambox on Nov 25, 2015 14:48:07 GMT
I sure feel like a turkey after 7 years invested in this...
|
|
|
Post by invest on Nov 25, 2015 19:10:15 GMT
Today and recent days trading taking place above the $8.50 tender offer is a bullish sign that there a)another bidder b)Astella will be forced to increase their offer. If there is another bidder i.e. (Company B) there is no telling what will happen. I am of course anticipating a higher bid. Here is an interesting quick read. May 17,2015 cashtenderoffer.com/In a cash tender offer, cash is offered to company stockholders in exchange for their shares. These deals can offer investors attractive returns. Investing in cash tender offers can be rewarding indeed. According to a published article, investors would have turned $10,000 into $70,600 from 1981 to 1995 by buying the target company’s shares a day after the announcement and holding until the deal closed. The same amount invested in the stock market would have grown to $31,400. While these results are impressive, there could be periods when you’d lose money. And, there’s no guarantee this strategy will work in the future. Acquirers include hedge funds, private equity, management led investor groups, and other corporations. The day after the announcement, the target company’s shares often trade below or at a “discount” to the offer price. The size of the discount reflects the uncertainty and time to completion of the deal. As the closing date nears and concerns about the deal are resolved, this spread usually narrows. In part, it’s the increase in share price between the day after the announcement until the closing date that offers the potential for gains. If the discount widens, then perhaps there’s trouble afoot. The deal price could be lowered or worse, the deal could fall apart altogether. Occasionally, the target company’s shares will trade above or at a “premium” to the offer price. This is generally an indication that arbitrageurs expect the offer to be increased. Perhaps shareholders intend to resist the bid because the price is too low. The acquirer may have to offer a higher price to get their approval. Or a competing offer is anticipated by the market. The emergence of another suitor could result in a bidding contest, pushing the stock higher and higher. Midwest Air Group was the subject of a protracted bidding war. Air Tran first bid $4.50 a share for Midwest in late-2006 but met resistance from Midwest’s board. In an effort to consummate the deal, Air Tran upped its bid several times. Then, in a surprise development, private equity firm TPG Capital made a $16.00 cash bid in August 2007. Air Tran responded with a $16.25 cash and stock offer. Just days later, Midwest’s board announced that it had unanimously approved a sweetened TPG’s all cash offer of $17.00 a share. News of Northwest’s proposed sale to Delta Airlines clouded expectations for a timely close but TPG completed the transaction in late January 2008, ending a nearly two year bidding war. There have been losses. The leveraged buyout of SLM Corporation (SLM) by JC Flowers, a private equity fund, fell apart soon after Congress passed legislation in late 2007 lowering the rates lenders could charge on student loans. JC cited the legislation as constituting a material adverse event or “MAE” and withdrew its $60 offer. The stock price unraveled along with the deal and recently traded near $10 a share. With many deals wrapping up in less than a year, most gains or losses will be short-term. This makes tax-deferred retirement accounts, like IRAs, better suited for participating in cash tender offers than taxable accounts. In spite of some spectacular failures, most tender offers have been successful. Intrepid investors may want to consider participating in a handful of cash tender offer situations. After a promising start, we unwound our positions in late 2008 after realizing substantial losses during the market crisis.
|
|
|
Post by greatceasarsghost on Nov 25, 2015 19:30:33 GMT
Both times I've seen this go above the $8.50 mark were days that a PR was put out that some lawfirm is investigating if the deal was fair or not. I wouldn't be surprised if its hopeful/wishful investors who believe some wrongdoing will be found. At the end of the day I think we go for $8.50
|
|
|
Post by harlem on Nov 25, 2015 21:22:27 GMT
Its over and we get 850 like it or not, mgt and institutions will do very well at the expense of small shareholders...same old story ... I do hope some form of justice (God, Karma, Cosmic) eventually hits mgt and BODs hard. Nothing left to do except to wait for the 850 pps to hit my acct. Lawyers will get paid togo away and a crumb will given to the retail investor to share to make everything legal.
|
|
|
Post by CM kipper007 on Nov 25, 2015 22:06:49 GMT
Its over and we get 850 like it or not, mgt and institutions will do very well at the expense of small shareholders...same old story ... I do hope some form of justice (God, Karma, Cosmic) eventually hits mgt and BODs hard. Nothing left to do except to wait for the 850 pps to hit my acct. Lawyers will get paid togo away and a crumb will given to the retail investor to share to make everything legal. If you think that is so, then why not put a sell on your shares for $8.60? We have seen the share price go above that a couple of times now.
|
|
|
Post by icellman on Nov 26, 2015 1:06:06 GMT
Greatceasarsghost/Harlem/Others-
If you really think the PPS will go off at $ 8.50, then why don't you sell right now when the SP has been in the 8.50's & 8.60's? One would think you would want to optimize your profits, if you think $ 8.50 is all your going to get that's fine, but I would certainly not sleep well knowing what has happened today and going forward.
Remember, all it would take is one bidder to come in and it would change the whole dynamic. It's why the smart thing would be to wait this thing out and see what happens. Regardless of what one chooses, I wish the best to everyone!
|
|
|
Post by ignorantsilver on Nov 26, 2015 2:47:01 GMT
i agree, just one other bidder and we go much higher. i'll be surprised if there aren't any other bidders. all that IP for such a low price is quite a bargain.
|
|