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DewDiligence

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DewDiligence

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Re: DewDiligence post# 54

Tuesday, 05/23/2023 4:35:51 PM

Tuesday, May 23, 2023 4:35:51 PM

Post# of 65
AVIR acknowledges Tang buyout offer—makes_no_recommendation_to_shareholders—(yet):

https://www.globenewswire.com/news-release/2023/05/23/2674788/0/en/Atea-Pharmaceuticals-Confirms-Receipt-of-Unsolicited-Proposal-from-Tang-Capital-Partners-Affiliate-Concentra-Biosciences.html

Even thought Tang’s $5.75/sh offer is a big premium to where AVIR was trading prior to the offer, it’s less than AVIR’s cash value per share. Hence, it’s hard to see how AVIR’s BoD could accept the offer. They could make a counter-proposal, of course.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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