Amylin AMLN: Michael King from Roadman & R said it was worth less than 10$, AZN+BMS acquired it for 31$
Amylin AMLN: Michael King from Roadman & Renshaw said it was worth less than 10$ in march 2012, AZN+BMS acquired it for 31$ in june 2012
pasting some lines from a bloomberg article on 30th march 2012,
[...“I don’t understand why you would turn down that bid,” from Bristol-Myers, Michael King, a New York-based analyst at Rodman & Renshaw LLC, said in a telephone interview.
He said Amylin faces increased competition for insulin- related treatments and also has a debt burden that could deter other potential buyers.
Amylin has $1.4 billion in net debt, more than 90 percent of biotechnology companies with at least $1 billion in market value, according to data compiled by Bloomberg.
King recommends investors sell Amylin, which he estimates is worth less than $10 a share....]
jfriedz87, hopes, speculations, thoughts can be seeded in minds of investors (reminds me of Brad Pitt starer Inception). The recent reuters leak suggested cubist offered 20$, and the analyst quoted in the same article said that 16$ is all OPTR would get, i highly suspect it to be a trick to make big holders sell their positions just a little above 16$, and the buyers take the rest when buyout happens at much higher pps.
He's a rookie with limited experience & no street cred---that's why he's at Rodman ( a putz firm). I was in AMLN from $10 on & don't really see a comparable story to OPTR---though I'll be happy to see a higher price.