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"Avx train is leaving- next stop $1"
Jimmy123 try telling that to the seller at today's close.
Unless of course he/she was the initial buyer and later seller??? A lot of portfolio adjusting going on i suspect. Just like at the end of the financial year.
You're right though as i think in a very short time $1 will look very cheap if ATC is as good as its cracked up to be. Also agree with you on a very early takeover offer especially given the high probability of success. It would make no sense whatsoever to make a move at the conclusion of phase III when the sp will in all likelihood be at the very least $1.50 and thus require a bid of at least $2.50 and over $900m. A move now would probably be successful at $1.50 and require $426m and an additional $60m to fund phase III. A saving of $414m to the bidder.

Do i want them to be taken over? Not really! If ATC is as good as it is made out to be then $3 is not out of the question within the next 18 months.
I don't know much about Biotechs so i am just looking at this from the probability of success, which i'm told is high, versus revenues in excess of $400m per annum versus takeover costs now as opposed to 18 months time.

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