Great point lasers. Retail shareholders may not have the risk tolerance to get the bid up. However, institutional holders may have some leverage. I'd imagine they would be less worried about Astellas waking away from the deal causing them to lose the $8.50 offer. So I won't be tendering my shares and personally speaking I would be happy with a $14 - $16 offer even though I had higher hopes for this stock when I bought it back a few years ago.
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