Avid Bioservices Inc (CDMO)

[north40000]

Other interesting developments from Ackman this morning, who reported he has been approached by a 2nd entity to assist with financing yet another M/A transaction, effectively duplicating his and Pershing Square's role in the scenario with Valeant's proposed purchase of Allergan.

Asked later today, Icahn thought Ackman has been very creative. As an activist investor himself, Icahn thought he would investigate similar roles himself in investing/financially assisting such M/A activity. That might be similar to roles he played in LLY acquisition of IMCL, or BMY/AZN acquisition of AMLN.

Meantime, there remains Calico as well as NVS/Roche combination, not to mention BMGF or Gate's own venture capital fund, as those who might assist in funding clinical trials in exchange for a partial equity interest. IMO, a win/win for all entities.

Initially a small equity interest coupled with option activity subsequently was the route Ackman used to acquire AGN shares.