He founded EXEL and I don't believe he's going to settle for a valuation of less than $3B. He sold ANDS for a 250% premium less than 2 years ago and he knows what EXEL (COMETRIQ) is worth. The total MV(of ANDS) was only about $300M Roche was glad to get it for that low a premium, EXEL would fetch a much higher premium at this current level.
All this speculation may just be due to a planted story by the HF shorts who are trying to add to their shorts before the ER is released in the 2nd week of February. The only way I trust the eventual buyout is if the stock trades above the the 5.30-5.50 congestion on volume.
I have followed Stellios for a while now. I remembered buying Exel when it was rejected by BMY. I purchased at $2.99 and have accumulated a sizeable position after he didn sell out when Icahn left . Today I am understanding how people like Stellios P, sees things. They see things differently and act accordingly. These people like him and Icahn are good at what they do. I am willing to bet that Icahn may get back in anytime. This would just send this stock ripping. Lets hope soon.
The key missing ingredient is volume. Makes me laugh...they drop it 6% on 2X average volume - bounce it back up 6% on normal volume - then "paint it up" 2% AH last Friday based on 300 shares. Who are they fooling?