And let's not forget this choice insertion into the 10/1 filing:
By inserting the following sentence after the last sentence of the current third paragraph on page 25 under the heading “The Solicitation or Recommendation—Projected Financial Information—The Operating Plan Forecasts”:
For those reasons, although Jefferies had access to such Operating Plan Forecasts, Jefferies was directed to utilize and rely on the Projections for purposes of its opinion and related analyses.
I don't usually look at these filings. Is it common to have so many amendments/revisions? Or is someone sensing that they tried to screw over the shareholders and realizing that it won't work is getting a bit scared?
"However, in preparing versions of Astex’s five-year business plan (the “Operating Plan”), management also prepared internal financial projections for fiscal years 2012 through 2016 (the “Operating Plan Forecasts”) that were used for internal planning and budgeting purposes for that five year period. The Operating Plan Forecasts were provided to Parent and made available to other bidders who were granted access to the electronic dataroom in connection with their due diligence review of Astex. In addition, Astex provided its financial advisor, Jefferies, with certain base case projections for the entire company, as well as alternative business scenarios, both upside and downside, for Astex’s Dacogen product and SGI-110 product candidate for fiscal years 2013 through 2026 (collectively, the “ Projections “) for use in
connection with Jefferies’ opinion and related analyses. The Projections were prepared by Astex management for a longer period than reflected in the Operating Plan Forecasts so that revenue streams and other financial and operating data for Astex’s pipeline product candidates could be captured in Jefferies’ analyses. These projections were not provided to Parent or its financial advisor."
Skip down and it says:
"By inserting the following sentence after the last sentence of the current second paragraph on page 25 under the heading “The Solicitation or Recommendation—Projected Financial Information—The Operating Plan Forecasts”:
"Because the Operating Plan Forecasts were prepared in connection with the five-year business plan, they covered the period from 2013 to 2016 and not any subsequent years."
An interesting thing happens when you look at the 2017 base case scenarios and beyond - it surges! And it seems like these scenarios were not provided to all prospective bidders. Did I read that right? If so, I feel like I'm being defrauded and the SEC should get involved.