MNTA IDIX etc: On today’s NVS CC, in reply to an analyst’s question about why NVS is using $11B of stock rather than cash to buy out ACL’s minority shareholders, CFO Raymond Breu said, “We want to maintain balance-sheet flexibility to do other smaller acquisitions.”
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”