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ONYX Pharmaceuticals, AŞ Message Board

  • triplecrown_1999 triplecrown_1999 Aug 25, 2013 10:15 PM Flag

    Onyx said that bid ($120) significantly undervalued the company and put itself up for sale.

    $125 v $120 is not too significant.

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    • And obviously there was no other better offer out there.

    • Statement by Co that $120 is significantly undervalues ONXX means real value should be at least $150+. This cheats all those who purchased shares and options at higher price due to this statement.

    • just read the merger agreement - it clearly states that " The Offer will remain open for a minimum of 20 business days from commencement, " - so it implies that any other bidder can still come bid higher for these shares if they want.....It does get interesting if AZ or anyone else gets into the bidding war..Hmmmm

      Sentiment: Strong Buy

    • TC & BOD are liars and crooks, when he made that statement that the company is significantly undervalued at $120, and they have also offerred other bidders the data, it was totally a misleading statement. IF TC & BOD knew that there were no other bidders and the implication of significantly undervalued statement means 4% premium on the original offer of $120 - what does it mean? These guys mislead all the shareholders of this company, and they should be sued for that...Yes, TC has proven his worth in terms of growing the value of the company but providing such misleading statements require investigation. Furthermore, i am sure shareholders are not happy with that price, I will not be surprised with multiple lawsuits on this deal....

      They still have time to stop this deal going through, and it would be interesting if there is any other bidder like AZ willing to offer a better value, what happens then...IS there a possibility of a hostile takeover from a competing bidder? All far fetched, but this deals smells too fishy at the highest levels...I am sure TC & BOD were concerned about their vested options...

      For a company that has US$750M in cash, with additional revenues from other drugs coming through, they had enough time to negotiate a better deal, why rush in at $125...Even if the Kyrpolis data could be sceptical, I am sure AMGN is not risking $10.4B for the drug to fail....

      I would have through atleast an offer of $135-145 would be reasonable with a certain risk premium attached to it....Wow, this deal is interesting, now we all wait for the lawsuits....Sorry, shareholders, you got shafted with lower valuation at the expense of vested options. I dont care how much value you create, when you make such statements to the public, then these statements have clear indications in the market place....


      Sentiment: Strong Buy

    • With all due respect Triple, I wish I got in sooner but I bought after the Adcom decision, think that was around $55...I thank them for getting me another $5 on my 100%+ return at the initial $120 offer. No complaints here. I plan to follow Dr. Coles like a hawk and invest with him wherever he lands. Gets a $10B offer for a company in just 5 years...REMARKABLE SIR.

      • 1 Reply to tickrpicker
      • No complaints here either. I suppose Onyx mgmt was saying the right thing, but it just didn't happen (significantly higher offers) and other suitors did not materialize. I would love to know how the big arbs managed to do on this one. It was a wild ride since initial bid. It will also be interesting to see what happens to the big option trades that were targeted by the SEC as insider trading.