After sleeping on this CVR low ball deal, I believe that such a buyout was not in shareholders best interest. The risk for TED was non existent going fwd, The need for it especially by Cubist and Pfizer was a must and given the extended patent on the drug under fast track it should have commanded at least $19/share. I smell a skunk.
I cannot help but think, with all of Trius's recent hires, they intended to bring this drug to market. Did they run into costs/problems that made the sale of the company in everyone's interests, was it a ploy to get Cubist to buy us, do they have some other trick up their sleeves like engendering a bidding war? It will be interesting to watch, and, I hope it will prove profitable for all of us. Like you, I think we deserve more, beaver.
Spot on, beaver....why don't shareholders have the right to approve this deal? I'm thinking a fund/institution/Pfizer might step forward and up the ante. I want $19 a share, and imo, this deal is not over....Let's Ride!
Shareholders will receive a tender offer from Cubist. In a way they do get to vote by either selling their shares to Cubist @ the tender offer price or decide not to. Each share holder gets a choice.
Watch what the large institutions do for some guidance.
I hate the fact that typos don't auto correct. But a 17% premium above the all time high is hardly worth dancing in the streets about.
Golong, a lawyer stated the company is committed to this deal. But what happens if a better deal is made public shortly?