The fair % ownership should be 90% Bpax and 10% ANI. You think I crazy, just see the current revenue +$200m off label libigel vs $20m from ANI. Also refer to projected future ANI revenue vs Bpax revenue projected by me from my previous post. Hehehe...
This merger should not happen at first place since we got +$200m revenue from off label libigel that generate CASH. We can buyout ANI later.
Simes and BOD just give away the company. You ever heard that CEO with +$200m revenue step down after merger and let CEO with $20m revenue to take control? THIS IS BS...
Profesor: Believe me, I'm not trying to defend Simes, but why would he purposedly deflate the stock price since it hurts him as a stockholder, as well as it hurts us. If the price was higher he would probably get a better offer from a more established company.I may be very simplistic in my thinking, but nothing seems to make sense.
Then again they could also be purposely undervaluing their sales and projections. The following estimated their revenue in the $37.1 million range for 2011. I actually think Dun and Bradstreet put more effort into estimating the sales, getting info from multiple sources, than Oppenhiemer did in the valuations. If this is accurate then where do they really sit in the next couple of years.
Since Przybyl was formerly the CEO of Akorn. If his growth strategy is consistent with Akorn and the revenue to market cap ratio remains remotely similar, by 2017 ANI alone should be looking at a Market cap in the ball park of $774 million. If Dunn & Bradstreet's estimates were correct and the 25% growth ANI reported was actually accurate the ANI's alone could have a market cap alone could be $967 million by the end of 2017.
The problem is the non validated valuations distort everything.
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