Cubist must pay premium for Cadence nothing less than $20 per share
If Cubist is on the prowl, they need to use their stock as currency, not there cash. Cubist is concerned that they will be taken over by Pfizer, who has 23 billion in cash. Cadence although there position is not as strong as they would like, but they are building the business nicely. If Cubist makes a play, I see an offer in the mid teens, Ted must hold strong for$20-$23.50 range. I thing that is fair value for a company that will have sales of $500 million in 3 years.