1) On Feb 4, PLX confirmed that it had been approached by Pfizer who expressed interest in buying the company. Apparently PLX wanted $1B, but PFE offer was lower. PLX then hired Citigroup to explore options (take over, partnership, etc.).
2) Pfizer has a well documented strategy pursuing biosimilars or follow-on biologics. In an inteview on Bloomberg, David Simmons was quoted as saying Pfizer is pursuing alliances or to buy companies that possess the technology to complete their strategy.
It is not hard to connect the dots that PLX has a unique and powerful technology that would give PFE a competitive advantage in engineering biosimilars - meaning the ability to create biologic drugs containing recombinant therapeutic proteins. It's the platform they want, not the pipeline. The 2 comapines already have a partnership. Now they just need to put egos aside, agree on a price, and shake hands. I expect something in the $8.50 to $10 range.
when they need another company to do it for them it is becoming no so certain it will happen.... unfortunately I do not see any buyout unless the price is very low...management pumpt up expectations but in reality nothing...