Replies to post #216402 on Biotech Values

[DewDiligence]

ABLX—BoD Chairman resigns effective immediately—presumably in regard to NVO’s buyout offer:

https://globenewswire.com/news-release/2018/01/08/1285257/0/en/ABLYNX-ANNOUNCES-BOARD-CHANGES.html

Ablynx NV today announced that Dr Peter Fellner, who has served as Chairman since 2013, has decided to resign from the Board with immediate effect. He will be succeeded by Dr Bo Jesper Hansen, acting as permanent representative of Orfacare Consulting GmbH, who has been a Non-executive Director of Ablynx since November 2013, and has been unanimously elected by the Ablynx Board as the new Chairman.

[DewDiligence]

Re: ABLX non-buyout

The proposal represents a 66% premium over Ablynx's three-month volume-weighted average price of EUR18.39 as of Jan. 5…[emphasis added]

However, the €28.00 non-CVR portion of the proposed buyout is only a 32% premium to ABLX.BR’s 1/5/18 closing price of €21.20.

The volume-weighted three-month average price and other similar metrics are silly ways to assess a proposed buyout, but suitors will continue to use them when they make a deal sound more lucrative.