Replies to post #1926 on IDM Pharma, Inc. (IDMI)

[dwhtex]

Gentlemen
I spoke with Mr. Levi also.I told him I had reservations about joining if I had to maintain my position until its over to see the benefits.He said no problem.In a nutshell I told him I believed the company had far greater value than $2.64 in its drug pipeline.The fact that P.A. took this deal suggests the company was in much worse shape and this was the only deal possible.I would have been happier with stock instead of this.I also told Mr. Levi I thought the price manipulation had gone on a long time as was the professional bashing on Yahoo.He said they would look at an independant evaluation of fair value.I think we were not paid fair value but we don't know all the facts.I asked him if he was successful who pays? The company has no money.There was a lot of promise here and someone else will profit from it.I think the company was keeping their true situation very quiet.
dwhtex

[tzm]

You will become part of the class action whether you sign up now or later. There is no urgency to figure all of that out now because you will always be eligible to join the class action. Haven't you ever gotten a letter saying that if you held stock XYZ during any part of this date range blah blah blah. And I doubt that you'll need to hold until the end to be eligible but you might as well because there is always the miracle chance that somebody else puts in a higher bid. Though the "Top-Up" section of the tender agreement might make things complicated.

Maybe we wouldn't have to go through all of this if Walbert would have kept a better eye on what was going on in his own house, but instead he was too busy at Horizon trying to moosh together a tylenol and an advil and calling it a new drug. While he was away, his biggest ally was trying to manipulate the stock with phony sales that were really just unnecessary transfers. And in the fourth quarter of 2008, Palo Alto showed that they sold a hundred some odd thousand shares which was another attempt by them to give the appearance that they were selling.

Oh and did you know that our beloved Dr. Sherman was a VP of Oncology at Takeda prior to joining IDM. So did Takeda have an inside guy?

Look I'm sure this is all just conspiracy fluff and that IDM really did have their backs to the wall because of financing but the Palo Alto manipulation is just outrageous and the takeover price is insane even by Palo Alto's assesment. Hell, Palo Alto was buying shares for as much as 2.53 as recently as March 27, 2009. And then they agree to a takeover premium that is 11 cents higher then this purchase?? So either their assesment of the companies potential was way off or something else is at play.

I would have rather that they sold Takeda all of the rights to Europe for 20-30 million and then pursued an FDA ammendment. The new FDA looks to be much more friendly. Hell, I would have rather they raised money in a dillution and then hired a new CEO and try to sell the stuff on their own. There are only 1200 potential patients a year and you certainly don't need a Super Bowl ad to reach out to all of them.

Maybe Bow is right and this 2.64 price is just the floor but it does seem like it will be hard to get out of the tender agreement. Though it is very weird that the stock is now 2.62 bid and even trading a little at 2.63. So either Takeda is trying to get shares a few cents cheaper or somebody is taking a flyer on a better offer coming.

Thanks for listening to my venting and good luck to you all.

[highfive]

guys bear in mind if IF we win this or force Takeda to back down that would mean no offer on the table and the stock price would fall (would it not?) unles that would mean an end to manipulation and of to 4 dolars we go lol




not a fan of im Cramer mad money but walbert could be a candidate for his CEO wall of shame.....ill give him the benefit of the doubt...but its looking that way......