Not really unusual. The investment community will often reward a company for making a smart move like this one. They are getting two companies at a cheap price that will substantially increase their revenue and earnings in the not-too-distant future. However, profit-taking usually occurs within a few days or weeks when all the excitement abates.
mkt knows too cheap a price. stockholders still have to vote approval. someone mentioned termination fee, I didn't see that? what is it? 29% insider held yet 42% held by institutions who have never been afraid to speak/vote their minds in the past.
I think even Cubist believes they stole the company, mostly because..........uh............they did. Truly a shame that shenanigans like this can take place at shareholders expense. Hopefully additional offers come, or the sale is voided by vote of the shareholders. They sure aren't getting my vote.
Beav I hope you are right -- I think they (PFE) would be foolish to allow this to go uncontested -- new potential -- longer protection from infringement and their ability to market the new guy on the block would be unbeatable -- time will tell!!!