Good post—I agree on all counts. I would be willing to bet that the $23.50/sh losing bidder for INHX was ABT or MRK. (Very unlikely it was B-I, IMO, insofar as this kind of behavior does not at all fit B-I’s corporate M.O.)
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”