What does "regarding material corporate developments with respect to certain assets of the Company" really mean? Why add the last bit? If there was a takeover bid it would be just "material corporate developments."
The Israeli newspapers report this:
Teva Pharmaceuticals looked increasingly likely to be writing down $258 million against the declining value of its 14.6% stake in the Australian biotechnology company Mesoblast. Mesoblast on Friday asked Nasdaq to suspending trading its shares due to “material corporate developments with respect to certain assets of the company,” which it said it would explain within the week. The Australian Business review quoted unnamed market sources as saying that Teva had decided to exercise an option it has by the end of June to end funding to develop Revascor, Mesoblast’s treatment for chronic heart failure. Teva acquired the Mesoblast stake as part of its ill-fated acquisition of Cephalion in 2011 for $6.7 billion. In its first-quarter report, Teva said it might take a $258 million charge in the current quarter against Revascor.
I don't think I like what's coming.
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