not all frost deals go through, this is from IVAX days:
Frost made yet another effort to strengthen the company's hold on the generic market in 1995 by merging with Norway-based Hafslund Nycomed. The deal, which would have created a $2.5 billion company, fell through in November due to shareholder opposition.
I thought the PBTH longs that are agains t he deal think it is worth more than what OPK is paying? If so, one would think the sp would be almost equal to OPK at this time. If they really thnk the deal is voted down, then PBTH should be much higher. I think smart money has it right, owning 80% the jewel, OPK, and 20% PBTH, and get a nice primium on the sale date for the PBTH, and happy to get, but if deal does not go thru, PBTH drops.
John announced long ago that he would own PBTH until just before the merger. If one i in it for short term pop, I think that is the way to go. There ae other shareholders like John that will sell their OPK shares after teh merger and I suspect there will be a price drop.
I suspect it is to late to buy PBTH to get OPK. It might be time to sell PBTH to wait to buy OPK though.
Still too many unknowns? The deal is simple. Both boards approved, Frost owns big chunks of both companies, and the shareholders who purchased and held since the deal was announced are swimming in money. The combined company should prove to be a potential buyout for a large pharma, so sit back and enjoy the ride.