The allergan Tobira deal offered a fasinating detail to acquisitions that we rarely discuss Here below is a direct quote from allergens pr
"Allergan will acquire Tobira for an upfront payment of $28.35 per share, in cash, and up to $49.84 per share in Contingent Value Rights (CVRs) that may be payable based on the successful completion of certain development, regulatory and commercial milestones".
These CVRs aren't new but rarely discussed But the premium price of 28-49 bucks is a significant difference
Applying that to Ariad I'll let you use your imagination as pertaining to a takeout offer proposal
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