Why will there not be another suitor? That's what everyone keeps saying, even these people on Seeking Alpha, but nobody gives a good reason. I can only guess that don't know how these deals go down. Either that or they are trying to keep the price below the purchase price on purpose.
It is entirely reasonable that they put this agreement in play with Gilead because one suitor was dragging their heals on an offer, or was trying to strongarm YMI with a lower price but actually really wants the asset. Why do you think it says what it does about being able to accept higher offers in the press release? Just think about the process, and the press release. It was competitve on Monday, so why isn't it still today? At least two parties have done their due diligence on the company and assets. This puts the company up for sale with a floor of 2.95.
Based on all the public information I have, I give a reasonable probability (higher than 25%) that a higher bid will come in. But the price might move higher sooner. Just wait until the agreement documents are disclosed in SEC filings. These should show the number of suitors and how the deal went down, and it could be revealing as to another 1 or 2 very interested parties that just had their bluff called.
And what if I am wrong? My downside is that I make 3% more instead of 20-30% more.