Replies to post #5672 on Ariad Pharmaceuticals Inc fka ARIA

[glass_half_full]

This is the point...

it might be a tactical error if they ever did decide to make a move.

CEOs don't get canned for tactical errors -- e.g., paid $3B for take-over target when they could have gotten it for $1B.

They DO, however, get canned for strategic blunders -- e.g., paid $1B for take-over target worth $0.

MRK's c-suite isn't interested in high-beta biotech equity investments. They're interested in fostering a relationship that will position them to be the take-over partner when the drugs are pretty much known quantities.