Replies to post #889 on Ariad Pharmaceuticals Inc fka ARIA

[JJM760]

Don

Haven't heard much from you on a potential buyout. What is your opinion? Would he sell Ariad or do you think they are going for the gusto with 534?

[BTH]

Even with a staggered Board, couldn't a majority shareholder vote be enough for even a hostile bid to allow for a takeover?

Does the Board really have the ultimate say in a yes or no situation, even if, say, 75% of shareholders approve of a hostile bid? I am asking this because I haven't read the By-Laws of the Company (I don't know if I really need to, in order to have that question answered). It's more of a question for an attorney or investment banker.

I was intrigued by all the changes in employement agreement with respect to % ownership etc., in the wording and change in control etc. I don't think Berger did this because he "knows" there is a change in control coming. I honestly believe he took a look at the Fidelity position of 14.98% (that's a really big position and at the time was .002% away from triggering a poison pill), and got scared that with the Fidelity position and other institutions now owning 50% of the company, he could be either tossed out (if he once again becomes a ineffective and greedy CEO) or the company is vulnerable to a takeover.

[lax20m]

Don you might be right but I do believe if a takeover was initiated the board would do the right thing irrespective of Harvey's influence. They have a fiduciary responsibility and in today's day and age ignoring it can have too many legal implications. However Im the type of person who always believes people will do the right thing until Im proven wrong.