Replies to post #2025 on IDM Pharma, Inc. (IDMI)

[TenaciousD]

There main defence is that MEPACT is a speculative play at best

“The projections did not include any estimates of the financial performance or expenses for MEPACT in the U.S. due to the substantial risks and uncertainties related to when, if ever, the Company might receive FDA approval for MEPACT. Additionally, and likely because of these substantial risks and uncertainties, the Company was informed by each of Takeda, Company B and Company A discussed above under “—Background of the Offer” that their final bids for the Company did not place any value on the U.S. market for MEPACT.”

Bow you hit it on the head, these guys are getting a steal of a deal but in this market I guess thats how the ball bounces these days. The numbers definitely show there is more than 2.64 worth of potential here BUT its obviously apparent they didn't turn down any offers for 5.00 a share from anyone else. Like my friends email stated, this gave us almost a dollar over close before the deal and the BOD gets all their bonuses.

D

[TenaciousD]

OSAKA, Japan & NEW YORK--(BUSINESS WIRE)--Takeda Pharmaceutical Company Limited ("Takeda", TSE: 4502) today announced the completion of the tender offer made through Jade Subsidiary Corporation (“Jade”), a wholly owned subsidiary of Takeda America Holdings, Inc., which is a wholly owned subsidiary of Takeda, for all of the outstanding shares of IDM Pharma, Inc. (“IDM”, NASDAQ: IDMI) common stock for US$2.64 per share. The offering period expired at midnight, New York City time, at the end of Monday, June 22, 2009.

According to the depositary for the offer, as of the expiration of the offering period, a total of approximately 21,842,929 shares of IDM common stock (including shares tendered under guaranteed delivery procedures) had been validly tendered pursuant to the tender offer and not properly withdrawn, representing approximately 86.4% of the outstanding shares of IDM. All shares that were validly tendered and not properly withdrawn have been accepted for purchase. Stockholders who validly tendered and did not properly withdraw their shares will promptly receive the tender offer price of US$2.64 per share, net to the seller in cash. The offer price paid or payable for shares tendered in the tender offer is subject to any required tax withholding, and no interest will be paid thereon.

Jade expects to exercise promptly the option granted to it in the merger agreement to purchase additional shares of IDM common stock at US$2.64 per share, which will result in Jade owning more than 90% of the outstanding shares of IDM common stock. Jade expects to acquire as soon as practicable all of the remaining outstanding shares of IDM common stock by means of a short-form merger under Delaware law. In the merger, Jade will merge with and into IDM, and IDM will become a direct wholly owned subsidiary of Takeda America Holdings, Inc. Pursuant to the merger, each remaining outstanding share of IDM common stock (other than (1) any shares held by IDM as treasury stock or owned by Takeda America Holdings, Inc., Jade or any subsidiary of IDM, Takeda America Holdings, Inc. or Jade and (2) any shares held by a holder who has not voted in favor of or consented to the merger and who has properly demanded and perfected his, her or its right to be paid the fair value of such shares in accordance with Delaware law) will be automatically cancelled and converted into the right to receive the same US$2.64 per share as was paid in the tender offer.