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Optimer Pharmaceuticals, Inc. (OPTR) Message Board

inforesource7 4 posts  |  Last Activity: Sep 13, 2013 3:00 AM Member since: Jun 19, 2008
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  • Reply to

    My Take

    by scheinrocks Sep 6, 2013 6:46 PM
    inforesource7 inforesource7 Sep 13, 2013 3:00 AM Flag

    Tandancurran,

    The source was deal reporter. Hopefully Bloomberg which reported on the exclusivity back in August will follow up with an article with more details soon. Yes, with a tag team approach one would think the offer would be higher and each suitor would get the parts of ICU that they want.

  • Reply to

    My Take

    by scheinrocks Sep 6, 2013 6:46 PM
    inforesource7 inforesource7 Sep 12, 2013 4:32 PM Flag

    Scheinrocks/ Tandancurran,

    Now we know what the delay in the sales process was. News out this afternoon. "Suitor GTRC said to be working with BAX for joint bid."

    FYI, GTRC is the PE Firm and BAX is Baxter. Expect Reuters and Bloomberg to follow up with an article soon with more details.

  • Reply to

    My Take

    by scheinrocks Sep 6, 2013 6:46 PM
    inforesource7 inforesource7 Sep 9, 2013 1:30 PM Flag

    Tandancurran,

    My bad on the stated ROCM EBITDA takeout multiple. I actually copied it from the yahoo finance / company / key statistics page last week which may not have updated post deal news. For some reason today the EV / EBITDA value has refreshed to display 23.60x which is accurate. FYI today ICUI EV / EBITDA multiple is 9.91x so lets see what multiple ICUI can negotiate with the PE firm.

  • Reply to

    My Take

    by scheinrocks Sep 6, 2013 6:46 PM
    inforesource7 inforesource7 Sep 7, 2013 5:19 PM Flag

    Scheinrocks, all good points to bring out. The process is painful but hopefully it will be all over soon. As an FYI, ROCM EBITDA takeout multiple was 14.58x and not 20x. I understanding using comps but some other points to consider.

    ICUI marketcap is 4 times ROCM
    ICUI EBITDA is 8.43 times ROCM
    ICUI is in exclusive talks with a PE Firm; ROCM is being acquired by a strategic buyer
    Looks like both companies founders (ICUI founder) and ROCM (2 co-founders) are cashing out
    Smaller companies generally receive a higher control premium versus larger firms; ROCM is being taken out for a 37% control premium.

    My best guess is, ICUI gets taken out in the $75 to $80 range.

    Cybercash28 should have thought about shorting earlier in the process not at the end. Bad timing now. I thought she / he was better than that. Might be better at RSI stocks versus M&A targets.

OPTR
12.780.00(0.00%)Oct 23 4:00 PMEDT

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