Geron Corp (GERN)

[TEUFForBust]

I agree with 90% of what you just said. However any buy out will be priced as a function of the value that Imetelstat represents. The Geron board is not obliged to except an early offer at a lower price just because JNJ makes it. If the board is confident of approval it is their fiduciary responsibility to either demand a price indicative of that approval or wait for approval to be completed and then negotiate the price. A buyout predicated on the price of Geron stock at the time of the negotiation is the financial equivalent of the tail wagging the dog. Insiders negotiate based on projected future value. And when the results of that negotiation is made public the stock price responds accordingly. That’s the dog wagging the tail. We are the tail, the Geron and JNJ boards are the dogs.