Monday, December 11, 2023 4:16:54 PM
If Institutions told IMGN that unless ABBV increase the offering they'll vote against it, if ABBV really wants the company, they could raise the price themselves. Of course while IMGN is prevented from soliciting a higher offer, it doesn't mean that another company, willing to pay more, couldn't get into the fray knowing that part of what they pay would be a penalty to ABBV.
If as an investor you believe that nothing will happen to change the offering, the question is, if IMGN's price climes to say something above $30, is it worth the wait to get $31.26. My only reason for holding if $30 is achieved would be the hope that the offering is modified or rejected. Had this offering been at $40 a share, I believe that most would still believe ABBV got a great deal.
Gary
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