Avid Bioservices Inc (CDMO)

[bfiest]

This deal, albeit not inked, likely came together verbally somewhere early Nov. when Catalent’s price was somewhere around $35. That’s when the price began its rise which was a bit confusing at the time. Catalent had significant issues and the entire biotech sector was underwater because financing had all but dried up. That’s how these deals are done. The buyers shareholders would never have accepted a deal at an 80% premium.

So really it’s a dam good deal for shareholders especially after all the issues Catalent had last year. $63.50 looks great to the buyer’s shareholders as well. And Catalent shareholders certainly can’t complain looking at where they were last Nov.