Prediction: Eisai will not pay the 65M as a milestone. They are going to BUYOUT Arena.
The irony of the VVUS failure is that it gives Eisai leverage to negotiate a buyout at a lower price. The corporate officers at Arena are going to be suppliers anyway. It's a win for them. It explains this violent action. Shorts will lose. The retailers who hold get knocked around, but wake up to a major win. It's coming. If not, this is classic marlket maker HFT accumulation through wildly blatant failure of a BID-ASK/ SUPPLY-DEMAND because of the HFT programs and the diluring of the BID-ASK through endless unenforced naked shorting. The market is the WILD WEST. Have horse and saddle and gun. Will travel.
That is true today but ARNA and Eisai can amend their partnership stipulations at any time. It would take the lawyers just a few minutes to change the language. Having said that, I hope ARNA remains independent as I intend to hold ARNA positions for many years.
Indiana with all due respect your speculation is wrong for only one reason. Japanese companies are conservative and want to see the value and do the math. The second reason is you think Jack Leif will take 15.00. Why would he take that number as he wins because Eisai will sell as that is what they need to do.
I respectfully disagree but think a 30.00 bid at min gets a phone call and sale. JMO