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Re: surf1944 post# 55

Wednesday, 10/12/2011 9:04:00 AM

Wednesday, October 12, 2011 9:04:00 AM

Post# of 133
1:50AM AMAG Pharma: MSMB Capital announces that ISS recommends that AMAG shareholders vote against the Allos (ALTH) Transaction (AMAG) 13.24 : MSMB Capital Management announced today that it was pleased to learn that ISS Proxy Advisory Services recommends that its clients holding AMAG vote AGAINST the proposed acquisition of Allos Therapeutic. In its October 8, 2011 report, ISS stated: "The AMAG board has effectively proposed that its shareholders accept 39% dilution in exchange for an asset that, based on the company's own stand-alone financial projections, would not achieve breakeven adjusted EBIT through at least 2027...The $2.44 implied offer value of AMAG shares is substantially higher than the upper end of range, suggesting Allos shareholders are getting an excellent price - and AMAG shareholders may be overpaying...As the strongly negative market reaction, the 13D filings from large shareholders, and the evidence that AMAG may be overpaying for an asset whose potential its current owners cannot unlock without AMAG's help, all argue against the transaction - and the stand-alone alternative is relatively strong, with little apparent operating risk if the deal falls through - A VOTE AGAINST THE PROPOSED TRANSACTION IS WARRANTED."


surf's up......crikey