Replies to post #259864 on Avid Bioservices Inc (CDMO)

[geocappy1]

Good question and what were the associated market caps

[north40000]

Gwen, the TO was made public by PR on 6/29/2009, a check of MEDX PRs or BMY PRs on Google will confirm accuracy of that memory or not.

Negotiations 'tween Andreotti and Pien started with a pre Christmas phone call the year before and continued in earnest in January. Option and RSUs strike price were set in February. With accuracy of those dates in mind, MEDX historical prices should be extant on Google or Nasdaq---I cannot do that with IPhone. BMY raised original offer, Pien & MEDX BOD said no deal---repeated raises of offer and continued nos occur until finally BOD OKs $16/share.

Above is all from memory, but can be checked later from Google and SEC documents. BMY needed 90% of OS to meet requirements for short form merger in Del.

[jq1234]

Was holding MEDX then, there is no similarity between MEDX and PPHM whatsoever. MEDX was in partnership with BMY, JNJ, MRK etc at that time already, market cap around $1.3B, around $8.5/share. Ipilimumab was in 2 ph3 melanoma trials which lasted forever. BMY acquired at 90% premium for $2.4B. Remember that was in 2009 just after financial crisis.