Check his twitter. From what I gather, the gist of his argument is that after the tender offer commences and is sent out to shareholders, any other company has 10 days to outbid that offer. He says he has heard of two companies that will likely bid.
Not sure how legit this rumor is, but I think it is plausible. Like many others here, I feel that $13.50/share is way too low of a purchase price and can't help but think many institutional holders will feel the same. If Cubist were offering a share exchange along the lines of 4 TSRX shares for 1 CBST share, I'd think it was a good deal, but as a cash deal with a CVR, I think it should be considerably better.
Here's hoping a bidding war ensues.
Anytime before the tender closes the TRSX board has the fiduciary duty to consider any legitimate offer.
That is not limited to10 days, but actually more than 30 days from today. Probably much more than 30 days because antitrust review will likely drag this out.
Won't rule it out and thats why I hold my shares for now because I know the minimum I will make. But I am not counting on this scenario much, because while it sometimes happens, it often doesn;t! Its really up to the tutes here--not us! If we don;t own the majority of the company, then we are dependent on what the tutes think.
Breakout the popcorn over the next several sessions! Buying more here could work, but for me is not worth the risk--one should have already basically had their fill previously of shares prior to and while this was rising.
Sentiment: Strong Buy
I agree that for some reason here, TSRX may be jumping the gun and in a panic to sell! I always thought the most likely route was a deal after approval to maximize value. There is some credence to not wanting to face the GIA scenario and hardball playing post approval? I am sure we will get more of a scoop on all this as time goes on!
Yeah, I don't always agree with his views and think he is a bit pumpy, but I hope he's right, too. Given the fact that a lawsuit popped up immediately and it's pretty clear that retail is ticked, I can't help but think some big players feel the same and will push for the company to get other bids. All it takes is one other company to offer a higher bid and a bidding war will take place. If there's one biotech out there that has a helluva lot going for it in terms of its pipeline and future revenue growth, it's Trius. I'd like to believe some other big pharma realizes that Trius is about to be purchased for a pittance.