Biotech Values

[DewDiligence]

Suing to stop a merger is a losing game (statistically speaking):

http://online.wsj.com/news/articles/SB10001424052702303949704579457414255774166

Corporate mergers are often fraught with uncertainty… But two things are virtual locks: The companies will get sued by shareholders unhappy with some aspect of the deal, and eventually they will settle with the offended parties without significant changes to the transaction.

Shareholders challenged 94% of U.S. public-company deals last year, up from 44% in 2007… The vast majority of these cases settle…with no bump in the deal price. Instead, companies agree to disclose more details and pay shareholders' attorneys' fees, which averaged $500,000 last year…

…Out of more than 380 challenged deals since 2011, only four—about 1%—yielded more money for shareholders in court…