Biotech Values

[oldberkeley]

Dew:Just wondering about PFE-WYE deal:

The "real" deal value and the upside for Wyeth shareholders is puzzling me a bit.

Wyeth closed at 43.74, is currently at 45.31 pre-market and most likely will continue to rise.

Pfizer closed at 17.45, is currently at 16.25 pre-market and most likely will continue to fall.

Since WYE shareholders are getting a set amount of cash and a percentage of a PFE share, it would seem to me that the deal will simply get worse and worse for them as each day progresses! I know that I must be missing something...