$12 ? let's mark your call at $12. If it were $12, BXLT would have proceeded to offer it. When they found out it was a minimum 2 handle, they had to walk.
We'll soon be back in the $8's. Then the biotech multiplier will take us minimally into the $20+ territory. I think a company that $5.5B in cash will take out Ariad. Minimum $20 for the company, and the rest for drug development.
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