The $75 low seems too conservative. Recall Jacosa that it wasn't too long ago that $45 buy-out was too risky (see below). A good day for INCY and it's been a great ride so far!
jacosa•Feb 12, 2012 12:48 PMFlag
I think an acquisition is unlikely right now (say, until at least Fall) because of a couple of big-money unknowables. We don't know how '050 will do against RA, and that's potentially huge. We also don't know how ruxo will do against toxic cancers, which is comparably huge and could develop rapidly. As always, management has to negotiate as though success is likely on both fronts, while an acquirer can't accept that. I think a tender offer would have to go to $45-ish, which is too risky.