Yes the letter is out and Riceen had a lot to say about Medivation. He was very pleased with it's more than $5.00 plus move last week. He thought it would hit $60.00 but all the bids have not been announced yet. You will see more prices next week with some as high as $56.50 but no where near the price that these companies want to pay. He says that is common for them to low-ball to get them to go to the table when prices on both parties can be discussed.
Medivation wants to be taken over. They feel that any of these big pharma's have the money to do their R&D for different types of cancer. The least amount that MDVN will consider is $67.50 a share. He feels on Wednesday news will be released on a new offer.