Biotech Values

[corpstrat]

<<all of us got this one wrong>>

By September I'd figured out that a monopsony buyer might turn the tables on the 'seller' if rationality trumped executive ego - see link below - but nobody here was interested. (I got out of the bet even - timing is always the problem with puts.) It seemed advisable - - but I'm no M&A lawyer - for Roche to make an exploding offer: every month you delay accepting, the offer drops by x%. That may be what happens next, but without the explicit threat it's less effective.

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