AZN/OMTH post-mortem: When a suitor pays an 88%+ premium* for a company that IPO’d only a few weeks ago, it shows a lapse by the business-development staff at the acquiring company. One has to presume that AZN could’ve bought OMTH more easily and cheaply while they were still private.
*Excluding the CVR.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”