Isn't this "thing" between Trius and Cubist an agreement and not simply an offer from Cubist?
The SEC filing by Trius states that share holder approval is required, but how can this agreement be overturned?
Can the shareholders call BS?
Can another suitor just step up and topple the apple cart with a bigger offer (please)?
It is a tender offer.
That means all shareholders will be given an option to tender there shares for the said price. This will take place over some period of time (30 days or so).
If 50+% or tendered then they "own" the company and will do a short form merger to capture the remaining shares on teh same terms.
They likely have already floated the general terms past enough institutions that they know it will get the needed shares.
Disclaimer: I do not know what the precide terms would be, those numbers are guesses.
Yes, another suitor can step up, and in my opinion, will. Let's Ride!
Sentiment: Strong Buy
I like your attitude chim I tend to agree with you. GL and hold out for our better offer.
SEC rules state that there is a 10-day window when a buyout is announced that another company can make a public offer which must be entertained by the company being bought out.
"SEC rules state that there is a 10-day window when a buyout is announced that another company can make a public offer which must be entertained by the company being bought out"
There is absolutely no such rule by the SEC or anybody else.
Google "bidding war tender offer" for some examples where this has occurred.