not high. market now has taken stock price over the $8.50 offer. mgmt took no questions on the perfunctory conference call. one question i have not yet had answered is what the size of the breakup fee is, if any
Exactly - based on the call this morning, they hired a banker to shop it and supposedly this was the "best" offer. The only chance of this deal getting nixed is if one of the potential buyers comes forward and indicates they were ready to offer a higher number, but management was unresponsive. There is a small chance this could have happened, as it appears that Otsuka is going to leave the organization in place (translation, most of current management will probably keep their jobs), so they may have greased the wheels for Otsuka, while snubbing a domestic buyer that might have wiped out most of the management jobs?