MNTA—I agree with your sentiment that financial term is fine but BAX isn't that good a partner.
Although we’re on the same wavelength about BAX, I nonetheless prefer a deal with a “bad” partner now to a 2-year delay for a deal with a better partner. In this endeavor, time per se is a crucial variable, as noted in #msg-69370129.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”